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Facebook plan kryptavalyutu right to set alarm calls | John Naughton | view



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NBecause Wimbledon is over, if you are looking for something interesting to see, I can offer to go to the video interrogation last week in the US Senate Committee on Banking, Housing and Urban Affairs David Marcus on Facebook? Given the astonishing incompetence of the Inquisition Marcus Senate chief Mark Zuckerberg, recently my hopes on a hearing last week were not high. How wrong can you be?

But first, a little background may be helpful. Facebook, currently the most toxic in the world of technology company, has decided to enter into foreign exchange business. It offers a new global kryptovalyutu called Libra. Marcus – the guy who leads the project. Previously, he worked at PayPal, and then moved to Facebook, where he led the company's Messenger Service.

At first glance, Marcus seems to be smooth with a central cast. At second glance it is "incomprehensible valley" defined by Wikipedia as "gipoteznuyu link between the degree of similarity of the object & # 39 with the person and the emotional reaction to this on the & # 39; an object." In this respect, he is unlike his boss.

To be honest, the circumstances put it on a sticky wicket: shortly before he took the stand, the Federal Trade Commission issued a Facebook fine of $ 5 billion for the violation of the Decree of the agreement in 2012 for the protection of user privacy. Marcus filed several affidavits in which he called the Scales "safe, secure and cost-effective way to move money around the world. We believe that the balance can make real progress towards the creation of an inclusive financial infrastructure. The journey to get there, will be long, and we recognize that our only just begun. "

In particular, he frankly stated that "Libra" was designed to help immigrants in the rich world to send money to their families in the poor world, are not devoid of unscrupulous capitalists. What could be this? It seemed very much.

Before the hearing of the Treasury secretary and the chairman of the Federal Reserve expressed concern about the new baby Marcus. And it seemed that even Donald Trump did not like it, although it is not clear, the president knows kryptavalyutu if to bite him on his feet. But it was the children's situation in comparison with what had to be said ranking member of the committee, Senator Sherrod Brown of Ohio.

"As a kid who took your hands on a book of matches," – he concluded. – Facebook burnt the house again and called every arson learning experience. We would pitch & # 39; yaty to give them the opportunity to experiment with bank accounts of people and use powerful tools, they do not understand, like monetary policy to jeopardize the ability of hard-working Americans to provide their seven & # 39; and " .

"Facebook," continued Brown, "by scandal after scandal has shown that it does not deserve our trust. To this must be treated as a corporation that is looking for profit, as well as in any other company."

Zuckerberg and co-worker, he said, "has repeatedly proven that they do not understand the leadership and responsibility; they do not control the government, they are working in non-profit laboratories. "In terms of irrationality, it was an antique. Marcus sat through it, as a cyborg, who was waiting for a hurricane.

But there have been some reasonable attorneys questioned by other members of the commission. As the Association of "Libra" (trustee "Facebook", created in order to reject the fears of monopoly control over the world currency) may be a non-profit organization that also received money for the huge interest in the reserve funds that it will have. ? Marcus did not have an answer.

How could he reconcile the wish of the Senate that all these mysterious things should be regulated in the first place the United States, when the association Libra is located in Switzerland and governed by its government? (He failed.) How safe was the Wall of China, which is supposed to separate user data kashalota "Caliber" Facebook on their activities in Facebook? (It is "designed" to be safe.)

And so on.

However, more interesting than questioning it was General tonnes hearings. At first it was not clear, but gradually the fog vychyshchavsya. The importance of this project "Libra" is that he & # 39 is the first example of the company from the time of East India Corporation, which holds the state. Currently, Facebook has 2.4 billion. Members that, if it were a country, made it much more than China. And one of the things that define the state – that is what they are doing currency.

Launch of the Libra, in fact states that it is also the state. A US senator said last week: yes, no.

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