On Interoperability of Blockchains and Facebooks new cryptocurrency

So I came up with an idea. I stopped writing a diary for quite a while back and I’m losing out on a lot. But I also want to share a lot of the things I learned and it keeps amassing, more than I can possibly remember back on. So I figured keeping a live journal of my learnings would be cool and it would also decentralize my brain!

Today I’ve dived into the world of blockchains and there are two main outputs from this.

  1. Is a reflection on Libra, the crypto that Facebook is developing.

    I’ve realized that even though they say that they’re going to distribute the shares or distribute the ownership of Libra to whoever has a stake in the blockchain or in the token, they also have Minimum stake of 10 million dollars to have access, which means that even though it sounds like they’re creating a cryptocurrency that can be used by the people (and they’ll probably have some great marketing scheme for this) in the end Libra, Facebook’s new crypto currency which is to be released in 2020, will instead of having Banks as the central Powers it will simply turn the big tech groups into the market owners. I think Amazon has already bought into it, so has Lyft and Uber, I don’t remember maybe Tesla as well. But yeah, Facebook’s to Creator and won’t do anything good, even though it may really seem like it when they start giving away “free” money to promote the currency.

  2. The second thing I learned about today was interoperability of Blockchains and there are two projects out there right now. The first ones called.

    Huh? I forgot the name of it…

    Either way, the second one is called Cosmos. The first one (which I forgot the name of) is simply a proof of stake which basically means that the ownership is proven by putting in money, which once again equates to a power distribution to those who have wealth. So I’m not too keen on that. But the second one, Cosmos, seems to also use some form of proof of social stake, which I find more interesting.

    So what’s exciting me about this is in creating interoperability between Blockchains is that it also creates interoperability between systems. Currently the way we tend to think about digital infrastructure is very singular. We have one internet. And especially now that I’m coming from the space of the distributed webs I see that there’s such a richness to be found in the multitude. And especially when there can be collaboration. So what’s exciting me about interoperability of block chain is that it also means diversity and it means multiple solutions. Rather than a singular potentially very fragile system of a centralized solution.

So yeah, those are the two things I’ve learned today and I’m trying out this new Thinking Out Loud into a transcription service thing. So let me know if you like it. And if you don’t, maybe don’t let me know because it’ll hurt my ego, but Yeah. I’m kind of keen on developing how I can harness the knowledge generated from each day. Maybe in more fun ways.

Yes, Zenna checking out.
:cherry_blossom: :sparkles:


hey, this is nice- sharing streams of thought like this.

Spaghetti brains is asking what the transcription service thing is?