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LINKS TO OTHER ARTICLES ARE BELOW
1.PART
2.PART
Mark Zuckerberg, Financial Services Committee and Libra coin query analysis (3.Part)
You can see this article series, which will be published in 5 parts, in groups at the same time each day. You see the third section down there.
You can find the full video of the aforementioned committee inquiry here.
What Is Libra With Mark's Answers? What does it do? What is the purpose? - 3. Part
Mr Davidson says,
“A lot of people used to tell me that Bitcoin was too small and nobody cared. (but look what happened) you probably want to be like Satoshi Nakamoto right now, right? Because we can't send him a notice and get him here. We can't bring a person here who we don't know, and we can't even ask him questions. Because Bitcoin doesn't have a hub. There's no Headquarters or holding. This person started this Bitcoin and the Blockchain got bigger and bigger, and if you ask me, it's going to get bigger and bigger, which is what Facebook wants to get into, which shows that the potential here is bigger and bigger. What are you saying about this?”
Mark responds;
“We're not trying to do anything like Bitcoin. We're trying to do something that suits America's financial system, and we're trying to improve America's financial system. We're just trying to make a payment system. A system of payment based on a certain, existing value only”
He's hiding behind a pay-per-view mask. You don't need a coin to be a pay system. Banks, money grams, Western Unions have been working very well for so many years. There are a thousand ways to do this without selling coins.
When asked a few times, Mark explains why he plans to center this library there, working with Switzerland and not in the United States, “because there is clarity and clarity in the crypto and other, exact definitions. It's a place where laws and rules are defined with very precise definitions.“
So in short, Mark is now telling America that he has to speed up his legal situation in this crypto business. He's pushing America on crypto, and he says that if you give us a hard time with crypto, you'll miss out on big companies like me and myself, which is just out of fear that America will have to speed up the legal definition and legal form of crypto and put it in a solid shape.
Mr. Budd says,
"Libra is not really a crypto. A real cryptocurrency is Bitcoin, Ethereum, XRP.”
It would be better if he didn't say XRP, but whatever. At least they're slowly beginning to understand what the crypt is.
Mr. Gonzalez says,
“We know that unauthorized, Blockchain technologies come and cannot be stopped. I think it's going to affect the world in a very positive way. I hope that the United States can at least be the leader on this issue. But these things I'm talking about have nothing to do with or have anything to do with Libra. Libra seems to have had conflicts and mistakes during the planning phase of the project. It looks like you had a target in the form of an unauthorized blockchain you used to say. There is no reason to motivate you to become decentralized.”
Well, of course. Which company wants to move from centered to decentralized by throwing control and money into the street? In a decentralized shape, all control will be given to people, which no centered system wants. There's no reason for Facebook to make a decentralized and fair cryptocurrency. He can't benefit from this. It's not a profit-making institution. It's all about the money he's going to get and the money he's going to make.
