Novi (Day 90)
Facebook has announced the name change--from Calibra to Novi--for its digital wallet back in May. I've signed up so I will be notified when it launches.
Who do you think would dominate the market--projects like Ripple, Stellar, BTC, Bitcoin Cash, or Ethereum, or the "Big Techs" like Facebook, who owns a distribution channel of 2 billion plus users?
My personal view is that the "Big Techs" may win in the short run, then eventually one or more of the cryptocurrencies / blockchain projects will become the dominant player.
With Facebook's distribution channel, it is not hard to gain users--just like how Tencent cracked into the payment market from Alibaba's stronghold by taking advantage of its massive user base.
But Novi is gonna be a centralized platform controlled by Facebook and the US Government, regardless what it claims. The world needs a decentralized solution so the transfers won't be subjected to censorship, and should not be owned or controlled by any central agency.
Well, if there would be a ranking of companies NOT to trust with anything of importance (like payments), Facebook would probably not just be on the list, but likely right at the top. 🤷♂️