Ep. 242 - Libra: Facebook's Entry into Crypto

CRYPTO 101

Bryce Paul & Brendan Viehman

Business, Investing

4.6 • 821 Ratings

🗓️ 21 June 2019

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bryce Paul, @PizzaMind, and Matthew Aaron sat down for a raw discussion in a new format — Twitter Periscope — to discuss the biggest news in the crypto space right now, Facebook’s digital currency: Libra. They cover the whitepaper, the corporate backing of the project, the technicals and the potential financial and cultural shifts Libra could introduce into the digital space. Sponsored link: http://crypto101special.com Show Links: CRYPTO101podcast.com iTunes: https://podcasts.apple.com/us/podcast/crypto-101/id1262351840?mt=2 Patreon: https://www.patreon.com/user?u=8429526 Twitter: https://twitter.com/Crypto101Pod twitter.com/BrycePaul101 https://www.instagram.com/crypto_101 https://twitter.com/PizzaMind Music: ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ♫Music By♫ ●Clark Grizzwald ●Song - Pop Rokz ●Copyright 2019 - Jay La Bella ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ **THIS IS NOT FINANCIAL OR LEGAL ADVICE** © Copyright 2019 Boardwalk Flock, LLC All Rights Reserved Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

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0:00.0	What is Facebook coin? It is not a cryptocurrency. It is, in fact, a financial ecosystem that Facebook is building from the ground up under the moniker of the Libra Foundation, which has partners that include Uber, Vodafone, Anderson Horowitz, and some other things you may have heard of called Visa, MasterCard, PayPal, Stripe.
0:25.2	Coinbase.
0:26.2	Coinbase.
0:26.8	You can't forget them.
0:28.3	And many, many others.
0:29.5	Coinbase is their, like, token legitimacy to call themselves a crypto.
0:33.1	I don't know if they really wanted to work with them or not, but Coinbase is there.
0:36.4	Before you, I think you just made a very big accusation there.
0:39.4	What did it define cryptocurrency and why is it not a crypto event?
0:42.8	It is beyond just a cryptocurrency.
0:45.3	I like to think of cryptocurrencies as like the whole idea of it being borderless and censorship resistant.
0:52.7	This is going to have censorship completely as a part of it.
0:57.1	You're not going to be able to send Libra to and from Iran, for instance.
1:01.3	Like, it's just not going to be legal or to North Korea.
1:04.0	Right.
1:04.6	So to touch more on that, what does it mean to be a financial ecosystem?
1:08.9	So Bitcoin is a cryptocurrency.
1:10.7	It's used to make payments.
1:12.6	Ethereum is beyond just a cryptocurrency.
1:14.6	It's a blockchain.
1:16.6	It's a platform that you can develop on.
1:18.6	And what Libra intends on having is, first of all, it is a blockchain,
	...

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