 Well it seems like Facebook Libra is actually going to launch. I said this last year, I think without a shadow of a doubt Facebook Libra will launch. However, how they originally planned to launch with their stablecoin is not going to happen as intended. It's more or less originally they had a different basket of different types of collateral associated with their stablecoin. Now according to a report from the Financial Times, Facebook backed cryptocurrency Libra could launch in January. More interesting though, the Libra association created by Facebook could scale back its ambitions once again. Like I just said a second ago, their original plans, which when it first came out, I was like either this is a genius move that they're coming out to gauge the environment or this is just the stupidest thing ever. They could have just fucking launched, to god damn Facebook, anyways. When it was first unveiled, the Libra cryptocurrency was supposed to be a brand new currency tied to a basket of fiat currencies and securities. Multiple different assets. Originally, it wouldn't be based on a single real world currency, but on a mix of multiple currencies. Many central banks and regulators have been concerned about this vision. That's why the Libra association started working on several single currency stablecoins. Blah blah blah blah. So the Libra association now plans to launch a single dollar backed coin, it's just going to compete against USDT and USDC. Now what's interesting about this, I think there's two things that's going to come about once Facebook Libra launches. So there's two camps. Camp A is like fuck Facebook, blah blah blah. And I agree. I think Facebook has, it has seen its heyday and everything they're doing right now is a sign that they're trying to catch up to where we are, meaning they're doing things in the past. They're trying to make up for their lack of innovation. So there's two groups of people. One they're saying this is going to be great, the other group is saying it's bad. I actually see silver lining in this. Number one, I actually believe net positively that this is a pro net benefit towards the whole Web3 ecosystem. This is going to be a stablecoin that's backed to the US dollar and yes, it's going to be heavily regulated and yes, it's going to be KYC and AML because it's associated with your Facebook account, with your WhatsApp account. And Facebook's not stupid. They're doing this to compete against Alibaba, Alipay and they have the ecosystems with Shopify. They have the ecosystems with WhatsApp so they can integrate the Libra across all the entities and properties that they're associated with and the properties that they own. So there's huge revenue potential for Facebook right now and they need it because they've been losing out on advertisements. Now the negative in this obviously is like, hey, we know exactly where you're spending money. We know exactly what you're doing and if we don't agree with what you're doing, we will blacklist you. No different than what USDC, USDT can do. More or less it's centralized tokens that they control. However, the silver lining in this is what I see is this will now open up Pandora's box and show people, hey, there's this thing called a stablecoin. Hey, there's this thing called cryptocurrencies. Hey, there's this thing called a token and not everybody but a small percentage of these people who start using Libra like, hey, what's this Bitcoin thing? What's this Ethereum thing? Oh, I never realized that Facebook is using KYC and AMO. I never realized they can hold my money. Oh, I never realized that they can just stop me from doing what I want to do. Oh, cool, Zcash. Oh, cool, Monero. Oh, cool, tornado cat. Oh, cool privacy stuff. So I actually believe that this is going to be a net positive that there's going to be a small but significant amount to remember. Facebook total reach is more than a billion people with all the different platforms that they have. So I think in the long run, this is a net benefit where a lot of people will flow over into the rest of the Web 3 ecosystem, which will then propagate and cross-pollinate into other projects. So keep an eye on this. This is brand new news. It just came out today. I mentioned this the minute it came out, no matter what. Doesn't matter what iteration or manifestation, how it's going to look like, no matter what Facebook Libra will launch. And here we are. It's going to be launching maybe in 2021. But at the end of the day, this is a net positive in my mind. I would like to know what you think. Leave a comment below. Let me know what you think about Facebook Libra. And if this is going to be a net positive, say yes. If there's going to be a net negative, say no. And I will see you guys tomorrow. Peace out.