Ethereum vs Libra: another co-founder attacks the coin
Mihai Alisie, co-founder of the famous cryptocurrency Ethereum, announces his opinion on the cryptocurrency of Facebook, Libra, highlighting his concern for it.
This is not the first time that a co-founder of Ethereum thinks negatively about the cryptocurrency, in our article "Libra receives its first support: an old economic adviser from Trump", where we compare the views of Stephen Moore, as an advocate of Libra, against that of Joseph Lubin, who criticizes the centralization of the currency.
On this occasion, it is Mihai Alisie who joins the tendency to criticize the cryptocurrency of Facebook, sharing the feeling of Lubin regarding the centralization of it. He presented his comments in an interview with Bloomberg. Alisie noted that Facebook is trying to get regulatory approval for its Libra by stating that it will not be controlled centrally by Facebook or other business giants; however, Alisie has his doubts about it.
Alisie reflects her suspicions in comments like:
«Facebook tries to deceive the regulators who have learned in recent years that the block chain is not something that can be easily regulated. It must be treated as an entity that tries to create a centralized currency. "
One of Alisie's main concerns is censorship, more specifically, censorship of the responses of powerful companies.
In the interview, Alisie shared her concern that if a Libra user loses the favor of one of the large companies that run the network nodes, which include Visa, Mastercard and PayPal, they can block or even cancel their transactions.
"Should you be in a position to control what you post from your device?" Alisie asked rhetorically.
Alisie believes that the possible centralization of Libra, and the potential for censorship in light, could have a domino effect on many fronts:
«This has implications in many areas, […] Facebook is actively manipulating the behavior of people on a global scale».
Observing this type of comments, associated with those we have exposed previously, it can be highlighted that the common concern is the centralization by Facebook. However, the issue of censorship is new, which gives to reflect.
I am an economics student, interested in innovation and technological development, always faithful that tomorrow will be a better day.
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