We do not trust them ... remembering Libra

We do not trust them ... remembering Libra


It is always good to remember some things within the cryptographic world. Even though this environment is not really more than 15 years old in the public space, many of the olive initiatives are relevant at this moment to be able to evaluate points of view not previously observed.

When I write this, my thought immediately reproduces the image of Facebook's Libra, the famous token, which although it has suffered setbacks, continues to work to be something more than a cross-border payment and exchange processor with the support of the capital of some private institutions that give it validity and some credibility.

The concept of Libra, as it was initially raised, was repealed by the US Senate, its projections were very ambitious and I think I stumble more than anything out of innocence. But behind this project there is a clear introduction to the radical centralization that everyone fears and that is part of that transformation process towards a system that will be dominated by this type of tokens and coins.

Libra simply devised what many institutions and governments want to raise as a new standard in the change that is lived, a unique unit of exchange that does not depend on a debtor system that can be manipulated and reinvented as many times as they want from above.

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I do not defend the Libra project, I firmly believe that with the new orientation that they want to do, it remains centralized and there is little it could contribute in a world full of competition seeking its own share of power such as central bank tokens. It is possible that it ends up being integrated into a payment network to adapt to a new control scheme outside the initial standards of cryptography, beyond the fact that it does not have a very good record with privacy.

A clear example is in Visa, working on its own blockchain and its own token, former partner of the Libra project and now seeking to create a more dynamic payment network with the support of central banks.

The Libra project was one of those many projects that already indicated to us what was the response of the institutions to Bitcoin, we already know what we are facing, and every day we realize the importance, almost historical, of Bitcoin.

Nothing is a coincidence, this incursion, which has not yet finished like many other projects, is a declaration that financial independence and decentralized ecosystem should not be adopted, I would not be surprised if they expose ideas totally remote from true financial freedom and subject us to a more restrictive scheme of longer cycles under the erroneous concept of a self-adapting centralization but which continues to have the same debtor roots. The power in this new technology and the evolution to the next monetary step are two elements too powerful to pass up and stop controlling.

 


alquimista1501
alquimista1501

I am a Venezuelan, worker, father of a family who fell in love with this crypto world; I love reading news related to the crypto space, from the technological performance to the shape and concept of each currency in this world.


Cryptographic Alchemy
Cryptographic Alchemy

This blog contains my opinions on the world of cryptocurrencies, and how these digital records are the key to the change towards a new future, but that in many cases, we already live in the present. Always remembering that cryptos, and especially Bitcoin, are inevitable.

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