The supervisors of the financial system quickly gave Facebook the understanding that the road to take off, let alone the success of its currency, would not be littered with roses.
A typical bank president, when asked what competition is most afraid of, briefly answers: GAFA. It is short for Google, Amazon, Facebook, Apple. – Maybe not today and not tomorrow, but in time these companies will take over our business – this is a widespread opinion among the heads of financial companies. Why do they think so? Because banking is becoming more and more a technology business on the one hand, and on the other – one in which UX rules the user experience. What is what, but the technological abilities and proficiency in UX American IT giants is not lacking. In addition, they have huge customer bases. From their perspective, the decision that we will now make money on finances seems only a matter of time.
It is possible that this time has just arrived. Last week, Facebook announced the launch of its billing platform for next year. And these are not some shy attempts. Names seem not to arouse much respect: Calibra and Libra. But the announcement that it’s a new digital wallet for the new digital currency – that’s it. Facebook has, after all, 1.5 billion users around the world. If he can persuade them to use both, the global financial system can stand on its head. Or rather – traditional money flow channels will dry up. This one will hit completely new troughs.
The trough will be still later. For now, why the project promises to be quite serious. It’s not just about the number of users using FB. Also, the fact that the company does not stand here for independence (or for self-defense). And, by the way, she gained quite a lot of funding for Libry and Calibra. The digital currency is to be based on blockchain technology – just like bitcoin. It is managed by the foundation announced by Facebook, to which almost 30 partners have already been acquired. Until the debut of the new money, there will be about 100 of them.
There is not a single bank among the partners so far – this business has in its name only the non-profit organization Women’s World Banking, whose aim is to include in the financial system a billion women in poor countries, which are now excluded from it. The closest to traditional settlements are the Mastercard and Visa card organizations. There are also PayPal and PayU online payment systems, the venture capital company Union Square Ventures and Andreessen Horowitz, the Vodafone mobile operator, the Spotify music service, e-commerce e-commerce and the car-sharing companies Lyft and Uber. So we have access to technology, money (each of the partners has to pay 10 million dollars, if there are hundreds of them – the project will have a billion dollars to start), telecommunications infrastructure. Well, we have where to pay. So there is everything you need to exist in the world of finance.
source: serwisy.gazetaprawna.pl
