Facebook's Libra to Face Congress

The transcript discusses Facebook's Libra project, focusing on its collaborative approach with regulators and the potential impact on financial markets. Concerns about data privacy and trust are addressed, with Facebook forming a consortium to build trust. The global regulatory challenges Libra faces are highlighted, along with the impact of Bitcoin's volatility on the crypto market. The future of Libra is speculated upon, considering regulatory compliance and the potential for launching in various countries.

What is Facebook's approach to launching Libra?

• Secretive and closed

• Collaborative and open

• Independent and isolated

• Aggressive and competitive

What is a major concern regarding Facebook's power with Libra?

• Insufficient technology

• Excessive data control

• Lack of user base

• Limited financial resources

How has Facebook attempted to build trust for Libra?

• By reducing its user base

• By limiting its data collection

• By forming a consortium of firms

• By launching in secret

Why is India hesitant about Libra?

• It has no interest in digital currencies

• It is uncomfortable with private cryptocurrencies

• It prefers traditional banking

• It supports private cryptocurrencies

What is a key feature of Bitcoin that Libra highlights?

• Centralized control

• High transaction fees

• Permissionless protocol

• Limited user base

How has Bitcoin's price movement been described?

• Stable and predictable

• Unaffected by market trends

• Constantly declining

• Volatile with large swings

What regulatory frameworks are necessary for Libra's launch?

• Minimal oversight

• KYC and AML frameworks

• No regulations needed

• Only local regulations