The hidden gem in Facebook’s Libra blockchain whitepaper

And two additional things to pay attention to following recent developments in the crypto market

Tomer Federman
Jul 12, 2019 · 4 min read
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1. Binance just moved $1.2 billion at an overall cost of $0.015

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2. The Facebook effect: the General Manager of the Bank for International Settlements (BIS) completely reversed his position on the potential and impact of digital currencies

In a stunning u-turn Agustin Carstens, chief of the Bank for International Settlements (BIS), the so-called central bank for central banks, acknowledged that they now support central banks efforts across the globe to develop local digital currencies.

3. The hidden gem in Facebook’s Libra blockchain whitepaper

I previously shared my thoughts on the implications of Facebook’s Libra blockchain announcement. Over the past couple of weeks I’ve also read a lot of commentary on Facebook’s move and two things stand out to me.

First, it seems that a lot of the coverage revolved around the minute details of the plan. Yet, the right lens to apply to this announcement should be focused on the Macro, not the micro. Focusing too much on the nuanced technical details that were included in the Libra whitepaper is tempting, but isn’t the right way to fully appreciate this move. Knowing Facebook’s product development process, the nitty-gritty details will change many times before Libra is actually rolled out in 2020.

Tomer Federman

Tomer is an entrepreneur & angel investor focused on early-stage fintech and enterprise startups.

Tomer Federman

Written by

Entrepreneur & early-stage investor · Previously at Facebook, SAP, multiple startups · Stanford MBA · Host, The Blockchain VC podcast · www.tomerfederman.com

Tomer Federman

Tomer Federman is an entrepreneur & angel investor focused on early-stage fintech and enterprise startups. Tomer holds an MBA from Stanford and previously drove product strategy & global growth of major ad products at Facebook. www.tomerfederman.com

Tomer Federman

Written by

Entrepreneur & early-stage investor · Previously at Facebook, SAP, multiple startups · Stanford MBA · Host, The Blockchain VC podcast · www.tomerfederman.com

Tomer Federman

Tomer Federman is an entrepreneur & angel investor focused on early-stage fintech and enterprise startups. Tomer holds an MBA from Stanford and previously drove product strategy & global growth of major ad products at Facebook. www.tomerfederman.com

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