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In his vision for the next decade, Facebook CEO Mark Zuckerberg revealed a number of ambitious plans, but surprisingly not anything on digital currencies.
In a Facebook post, Zuckerberg spoke about not just about social media platforms, but also about empowering young entrepreneurs, technological breakthroughs such as augmented reality glasses, clearer rules for the internet, and even decentralizing commerce.
“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,” he said. “At the end of the day, a strong and stable economy comes from people succeeding broadly, and the best way to do that is to make it so small businesses can effectively become technology companies.”
He envisioned a future where it would be easy for anyone to sell products via Instagram storefronts, provide customer support via Messenger, or make remittances via Whatsapp.
Speaking of regulations, Zuckerberg emphasized a number of areas where clearer rules would be helpful, including elections, harmful content, privacy, and data portability. To that end, he said:
“Another and perhaps even better way to address this is by establishing new ways for communities to govern themselves. An example of independent governance is the Oversight Board we're creating. Soon you'll be able to appeal content decisions you disagree with to an independent board that will have the final decision in whether something is allowed.”
No mention of Libra
Back in 2018, Zuckerberg had revealed his interest in learning about encryption and cryptocurrencies. Fast forward to June 2019, Facebook unveiled its own cryptocurrency project, Libra.
Since the official announcement, the initiative faced a lot of regulatory resistance from all around the globe. Zuckerberg and Facebook head of Calibra David Marcus tried to convince the regulators to give a go-ahead to their project. In Oct., Zuckerberg testified before the Congress, which followed similar Congressional hearings in July in which Marcus attempted to defend the project.
However, the project has been marching forward despite the regulatory roadblock. The Libra Association charter was signed by 21 members in Geneva in October. In the following month, the Libra Association, which governs the Libra project, said that 10 wallets, 11 blockchain explorers, 2 IDEs, 1 API, and 11 clients have been actively involved in the development of the Libra network.
Speaking at the Digital Money Forum at the Consumer Electronics Show (CES) in Las Vegas, Dante Disparte, vice chairman of the Libra Association, expressed his views on Libra and why it is important, CoinDesk reported.
“Bitcoin as an asset class has proven that mathematical scarcity can support an incredibly exciting asset," he said. "It's not a means of payment. It just isn't."
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