Bill Barhydt on Libra: The Dawn of Corporate Money - WBD143

Mr Obnoxious

Peter McCormack

Technology, News, Politics, Money, Investing, Finance, Bitcoin

4.8 • 2.7K Ratings

🗓️ 30 August 2019

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

Location: Palo Alto
Date: Wednesday, 24th August
Project: Abra
Role: CEO & Founder

Facebook announced in June that they would be launching Libra, with the mission of enabling a "simple global currency and financial infrastructure that empowers billions of people".

Libra proposes a permissioned blockchain, meaning that unlike Bitcoin it isn't a decentralised project as control over the network is governed by the Libra Association. With these unique properties, Libra doesn't fit into the government-issued fiat financial model or the decentralised and trustless Bitcoin model instead. Libra is the dawn of a new type of money, the dawn of corporate money.

Libra has not come without criticism, from central banks to governments to the cryptocurrency community and even the President of the United States, the announcement has ruffled feathers.

Following two days of hearings in DC, where the head of Libra faced questions from Congress, there is still regulatory uncertainty regarding the currency. Other governments have also been pushing back, and there are rumours that some of Libra Association Founding Members are backing out. Will Libra even launch? If so, will it revolutionise money?

To kick-off the What Bitcoin Did Libra series I am joined by Bill Barhydt, the CEO and Founder of Abra. We discuss why Facebook is launching Libra, why they didn't use Bitcoin and why Bill considers Libra as positive.

Transcript

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0:00.0	Welcome to the What Bitcoin Did Podcast.
0:05.0	Hi there, from Los Angeles, how are you all?
0:09.0	Welcome to the What Bitcoin Did Podcast,
0:10.0	which is brought to you by Krakhan, the best trading platform for
0:13.1	Bitcoin as. How are you all? I'm out here in LA. I'm out here for Russell O'Kung's
0:17.8	Bitcoin is event. I'm going to be moderating some panels and also going to be
0:21.9	interviewing Russ. But after my flight over was a pain it
0:26.0	got cancelled I was going to be flying out yesterday it got cancelled because there's a
0:29.7	hydraulics problem I got put up in a hotel at Heathrow Airport so I flew in today instead which has
0:34.4	kind of changed my show schedule I wasn't able to get in and do an interview I was
0:38.0	going to do with Dan held today so my Libra series which was going to start next
0:42.0	week is starting today so to kick it off I've got an interview with Bill Barhart from Arbra where we're going to discuss the dawn of corporate money and why Bill is positive about Libra. But before that I do have a message from my show sponsors.
0:54.7	So firstly today's show is brought to you by Cointing, the best crypto calculator in the market,
0:59.8	and this is their final advert on the show.
1:01.9	They've had a three month run with me so let's do
1:03.8	them a massive solid go and check out their website and go and check out their app.
1:07.4	And also just a massive thanks to a coointing for supporting the show. One of my
1:11.4	favorite things about them is their portfolio manager, which is definitely
1:14.8	a massive step up from all the other portfolio managers I've seen out there. And while tax season is over,
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1:26.5	It is the most complete portfolio tracker tool in the market, offering both a desktop and app
	...

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