Old-Thinker News | June 18, 2019
By Daniel Taylor
While Silicon valley is making a move back to cash, Facebook is pushing its cashless system on the globe.
The system, called Calibra wallet, will give the world’s population access to the “internet of money”, as well as controlling access to transportation and goods.
As reported by the Sun, Facebook “… intends to open the Calibra Wallet up to additional services, so that people can pay bills, buy goods by scanning a code or accessing public transport”.
The service will reportedly allow individuals to use public transport “without the need for cash or travel passes”.
Calibra wallet is being supported by Visa, Mastercard and PayPal.
In 2011 it was reported that Facebook wanted to be your “internet drivers license“.
Just like in China with its social credit system, your behavior and political views will likely have an impact on your access to the “internet of money”.
Facebook has already exercised authoritarian control over its users political views, banning and censoring mostly conservatives and Christians.
Under a centralized, cashless system that uses social engineering to manipulate individuals behavior, freedom will cease to exist.
Unfortunately, there are 2.8 billion facebook members who are stupid enough to use the social platform and may likely use Libra. A perfect case of the willfully evil controlling the willingly ignorant.
“Is Libra really a cryptocurrency?Well, that depends on how you define cryptocurrency. The Libra coin will run on a blockchain, but it will be a far cry from Bitcoin.To begin with, it will not be a purely digital asset with fluctuating value; rather, it will be designed to maintain a stable value. Taking cues from other so-called stablecoins, it will be “fully backed with a basket of bank deposits and treasuries from high-quality central banks,” according to a new paper (PDF) describing the project. Besides that, Bitcoin’s network is permissionless, or public, meaning that anyone with an internet connection and the right kind of computer can run the network’s software, help validate new transactions, and “mine” new coins by adding new transactions to the chain. Together these computers keep the network’s data secure from manipulation. Libra’s network won’t work that way. Instead, running a “validator node” requires permission. To begin with, Facebook has signed up dozens of firms—including Mastercard, Visa, PayPal, Uber, Lyft, Vodafone, Spotify, eBay, and popular Argentine e-commerce company MercadoLibre—to participate in the network that will validate transactions. Each of these “founding members” has invested around $10 million in the project.” by Mike Orcutt, MIT Technology Review