'Why Should We Trust Facebook?' Rep. Waters Asks Marcus

The transcript discusses Facebook's role in the Libra project, addressing trust issues due to past data mishandling. It highlights Facebook's leadership in the project, the open-source nature of the codebase, and the structure of the Libra Association. The Calibra wallet's launch strategy and user account requirements, including KYC compliance, are also explained.

What is the primary concern about Facebook's involvement in the Libra project?

• Facebook's financial instability

• Facebook's limited user base

• Facebook's history of data privacy issues

• Facebook's lack of technological expertise

How does Facebook plan to address the trust issues related to the Libra project?

• By offering financial incentives to users

• By reducing the number of partners

• By increasing advertising

• By making the project open source

What is the significance of the Libra project's codebase being open source?

• It increases project costs

• It restricts the number of developers

• It enables global access and use

• It allows Facebook to control the project

What must users do to create a Calibra wallet account?

• Pay a subscription fee

• Complete a survey

• Provide a government-issued ID

• Link their Facebook account

Why can't users use their Facebook accounts for the Calibra wallet?

• To simplify the registration process

• To ensure compliance with KYC requirements

• To reduce server load

• To increase Facebook's user base