Dumbest move ever by Facebook to preanounce and give governments time to complain. They should have moved fast and dealt with the consequences later. They had a reasonable chance of being the dominant cryptocurrency, and instead they get to spend a year apologizing and backtracking before they ever deploy.
Even if FB were willing to take the risk, they partnered with institutions that understand the world a bit better than that.
Would-be volcano-dwelling evil geniuses in the tech world will learn patience eventually. (Arguably, some are - that's why Palantir is such a frightening entity that I'd like to see reigned at least as much as FB.)
There is no “working with government”, for any proposed money substitute that gives normal people a place to hide from central bank inflationary policies.
That would just never happen. The French government doesn’t have some minor worries that can be resolved by changing an API. They are going to oppose anything that is cryptocurrency plus Facebook.
I'm surprised people disagree with this statement since blitzscaling seemed pivotal to Uber's growth. However, FB is already in hot water. Maybe the pre-announcement was to prevent further damage to the brand.
Had they done this, they might have risked a full on ban on any monetization in those nations. The blue app has negative growth in those markets, and no surplus of goodwill.
