Posted 1 year ago | by Ben Armstrong
Mark Zuckerberg Reveals Facebook’s Digital Commerce 2030 Vision – Ignores Libra
Facebook CEO Mark Zuckerberg described a vision for 2030 with a list of his goals for the social media Goliath, which is an extensive "opportunity" for Facebook to "decentralize" finance and business. Libra was ignored.
“Over the next decade, we hope to build the commerce and payments tools so that every small business has easy access to the same technology that previously only big companies have had.”
Zuckerberg's vision for 2030 includes technologies that Facebook has already been pursuing, such as Instagram storefronts, customer support based on Messenger and remittances via WhatsApp. He expects that his company’s efforts can, "go a long way towards creating more opportunity around the world."
Interestingly, Zuckerberg did not mention Libra, the controversial stable coin which Facebook formally announced last summer.
Libra isn't a Popular Topic at the Moment
Facebook states it will have a hands-off relationship with Calibra as the Facebook offshoot creates the now-controversial digital currency. Calibra is Facebook's 'crypto subsidiary' and one of 20 members supporting the stablecoin.
The governing council for the project, The Libra Association, introduces itself as on a mission to, “empower billions of people through the creation of a simple global currency and financial infrastructure.”
Zuckerberg has testified before Congress about Libra project, as has his deputy David Marcus, though he has formally announced he will keep some distance from the Libra project, and does not run the association.
TechCrunch noted that Zuckerberg only alludes to virtual reality without mentioning Facebook's Oculus subsidiary in other parts of his 10-year plan.
There is Near-Zero Support for Facebook's Quasi Crypto
Many policymakers and economic bureaucrats have suggested Libra is a potentially catastrophic danger to the financial world order. Those critiques are in addition to Facebook’s war with other regulatory issues, like data privacy and election tampering.
Trying to distance himself from Libra is the way that Zuckerberg is doing solves nothing, as the project is clearly tied to one of the most abusive digital companies on planet earth.
Recent leaks from Cambridge Analytica (FOLLOW THIS LINK) have demonstrated a pattern of mass manipulation, and if that were to extend to a person's money, the possible scenarios are nightmarish.
There is no doubt that Facebook wants to enter the digital payments space.
The real worry now is why all these scandals have done little to dent Facebook's popularity. If people continue to ignore the dangers that Facebook presents to their personal freedoms, they deserve to be manipulated and abused by a company that is operating with highly questionable ethics.