Libra’s Natural Monopoly Has the Business World on Edge, Rep. Foster Says

Libra’s Natural Monopoly Has the Business World on Edge, Rep. Foster Says

Assessment

Interactive Video

Business, Information Technology (IT), Architecture

University

Hard

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The transcript discusses the challenges and policy questions surrounding cryptocurrencies like Libra, focusing on anonymity and transaction reversals. It highlights congressional efforts in authentication and digital identity, as well as global trends in digital fiat currencies, particularly China's advancements. The Dashboard Bill is introduced, aiming to enhance data privacy and transparency for consumers. The discussion also touches on Facebook's role in these developments and the need for regulation, with an emphasis on cooperation between tech companies and lawmakers.

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7 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the two tough policy questions that need to be addressed regarding digital currencies?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How does the ability to reverse transactions differ between cryptocurrency and traditional payment methods?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What responsibilities do credit card companies have when it comes to mistaken or fraudulent transactions?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What advantages do digital fiat currencies offer to underbanked or unbanked individuals?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

What concerns do businesses have regarding the Libra proposal?

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6.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the purpose of the Dashboard Bill mentioned in the discussion?

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

How do consumers currently interact with data agreements online, and what changes are suggested?

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