The full list of partners working with Facebook to host its new crypto stablecoin has gone public – and already sparked fears of mass data collection.


Facebook Crypto Nets Giants Of User Data

Published by cryptocurrency news outlet The Block June 14, the partners for the project variously dubbed ‘Libra’ and ‘Facebook Coin’ make for revealing reading.

We know that Facebook is charging $10 million to run nodes for its cryptocurrency. Bitcoinist even uncovered a few who’d paid it. So I’m launching a revolutionary new ‘currency for the internet’. Who do I need to get on board?

Well I need some on-ramps, so payment providers like Visa and MasterCard. Why not throw in PayPal, Stripe and Pay U too? The more the merrier.

Clearly I also need some merchants and service providers to give users an outlet to spend their ‘internet money’. Well you can buy everything on eBay, and it certainly did wonders for PayPal. People spend money on Uber, although some insist on spending it with Lyft. And music streaming… so…

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Source: https://thebitcoinnews.com/facebooks-silicon-valley-coin-is-a-leap-towards-surveillance-capitalism/