Facebook facing a lot of Heat
Lately, Facebook has been taking a lot of heat from the Lawmakers from their recent Interest which they have Invested in called LIBRA. Now I feel like if you are here on Steemit than it's highly unlikely that you don't know about LIBRA but still let me explain it briefly.
LIBRA is going to be the Cryptocurrency Stablecoin from Facebook and a bunch of other Industry Leaders. LIBRA is apparently going to be backed up with a pot of Assets with different Currencies and Bonds. Now I am not going to talk about the viability of such Cryptocurrency here as it's a talk for another time.
What I am going to talk about is the sheer amount of Resistance that has been put up from the Lawmakers against Facebook about the LIBRA. One part of me says that it is good to be strict against Facebook as last year they were facing some charges for purposefully sharing User Data with Third Parties but at the same time, something doesn't feel right to me. On the flip side, this also looks like some people are taking advantage of the Law to slow down Facebook's progress into the Cryptocurrency World and hoping that they catch up to them.
What do you think is happening here?
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The renowned legislative branch is scared of crypto on any form.
They're too late....it's here.
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I don't know about Governments all over the World but our Indian Government looks confused as to what Crypto is and what to do with it and that stance is making us suffer.
I'm sorry to hear that. No person should suffer from their own government.
But I know it happens here as well.
It is confusing because it's new. But it obviously is an answer on so many levels.
With that in mind... their confused because they are jealous.
The solution didn't come from the "Halls of leadership" and they can't stand it.
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