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Someone Just Hard Forked Facebook’s Libra Coin over Democratic Issues

posted by martyb on Friday June 21 2019, @07:15PM   Printer-friendly
from the Balancing-the-Scales dept.

An Anonymous Coward writes:

The launch of Facebook's Coin whitepaper happened yesterday, the same thing with that of Calibra, the wallet designated for Libra coin.

Although Libra follows some of the nitty-gritty of cryptocurrency as enshrined by Satoshi Nakamoto, the absconded creator of Bitcoin.

However, it is lacking in trust and falls short of the democratic principles envisioned by the faceless Bitcoin creator which makes cryptographic projects tow a different root from conventional currencies like US Dollars, Euro, and other fiats under government monitor and regulations.

[...] There is a new fork of the Facebook's newly launched cryptocurrency, Libra. The project branded as Libra Classic questioned the trust issues faced by Libra, a digital currency said to require no KYC since Facebook already has necessary information of its customers.

There are many questions posed to Facebook on Libra, one is the undemocratic issues faced by the digital asset since the reason Nakamoto invented cryptocurrency is to remove government's hands from currency.

The fork of Libra was announced few hours after Facebook's GlobalCoin unveiled its website, whitepaper and Testnet yesterday. Libra Classic, now has its commit page on Github.

The forked cryptocurrency is referenced as a privacy oriented, democratic version, of the Libra blockchain.

The Libra Classic was announced yesterday by Mikko Ohtamaa, CTO at TokenMarket, Europe leading investment platform.

https://todaysgazette.com/someone-just-hard-forked-facebooks-libra-coin-over-democratic-issues/

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  • (Score: 2, Insightful) by Anonymous Coward on Friday June 21 2019, @07:36PM (3 children)

    by Anonymous Coward on Friday June 21 2019, @07:36PM (#858642)

    In reality, this is more of a marketing stunt.

    That sums up Libra Coin as well.

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  • (Score: 2) by Snow on Friday June 21 2019, @11:14PM (2 children)

    by Snow (1601) on Friday June 21 2019, @11:14PM (#858692) Journal

    Don't underestimate it. It has some powerful backers.

    • (Score: 4, Funny) by PinkyGigglebrain on Saturday June 22 2019, @03:27PM (1 child)

      by PinkyGigglebrain (4458) on Saturday June 22 2019, @03:27PM (#858859)

      Don't underestimate it. It has some powerful backers.

      So did Hillary

      --
      "Beware those who would deny you Knowledge, For in their hearts they dream themselves your Master."

      • (Score: 0) by Anonymous Coward on Monday June 24 2019, @02:53AM

        by Anonymous Coward on Monday June 24 2019, @02:53AM (#859227)

        Right. Next up DonaldCoin.
        Innovative feature, if your wallet goes to zero it turns the volume to max and plays "Bankrupt!!" through the speakers.