Facebook co-founder Chris Hughes sure is an interesting person to talk to about Facebook. Hughes, who still considers his college roommate Mark Zuckerberg a friend, has said Zuckerberg is too powerful and that the company should be broken up. On Friday, Hughes warned that Facebook’s new planned digital currency Libra would shift monetary power to corporate giants. Advertisement “Move fast and break things — our mantra in Facebook’s early days — was an appropriate slogan for a college social network,” Hughes wrote in an op-ed for the Financial Times. “It’s not appropriate for the global monetary system.” The Switzerland-based Libra Association, a group composed of Facebook and its global corporate partners with an entry fee of $10 million, will be making all the governance decisions surrounding this new global currency. Hughes, who left Facebook in 2007, tweeted on Friday that Libra is both “brilliant and frightening” because it shifts crucial power Financial Times op-ed, he wrote: Let us imagine that Libra works as planned. Hundreds of millions of people around the world will be able to send money across borders as easily as they send a text message. The Libra Association’s goals specifically say that ability will encourage “decentralised forms… Read full this story
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Facebook Co-Founder Says Libra Will Empower Corporations and Weaken Developing Countries have 320 words, post on gizmodo.com at June 21, 2019. This is cached page on Vietnam Art News. If you want remove this page, please contact us.