Review on Libra by Mr Benji

Name: Libra
Item: Libra
Rating: 3

June 19, 2019

Worse or best thing for crypto?

1. Blockchain or not blockchain? - Libra Blockchain (LB) is a bit of a strange thing, on the one hand someone has probably done a lot of work to make his mimicry almost perfect and perhaps to seem a little superfluous, but still a blockchain, even with a relatively functional consensus mechanism.
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LibraBFT itself, which is not completely interesting, now leave aside, the more interesting is that inthe whitepaper text we can read something that questions Libra Blockchain as a blockchain in any The meaning of this word (despite its relatively broad content): "Unlike previous blockchaines that understand blockchain as a chain of transaction blocks, Libra Blockchain is a unified data structure that records the history of transactions and states over time. This implementation simplifies the work of applications that access blockchain, allowing them to read any data at any time and verify the integrity of that data using a unified framework."
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Even if we leave aside the question of structure and whether LB is a blockchain, or rather a monolith, and the fact that LB is a centrally controlled pre-selected validator by private DLT technology, LB administrators are still surprised. They come up with the idea of ​​archiving (meaning deleting) older data to save space in LB. While the absolute immutability of records is ideal, every blockchain is trying to get closer to it (although Bitcoin is doing so well above all), boasting its own blockchain by deleting data is an absurdity of such dimensions.
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2. Libra is still facebook ? - 
Librais still Facebook but pst!
 When it comes to cloaking over regulators, the case of Calibra's subsidiary is also interesting, with the purpose of creating a proprietary purse called calibra for the Libra digital token, allowing the token to be purchased, stored and used. Calibra seems to be the only part of the entire organization that seeks to obtain a financial license, and only a money transfer license.

While Facebook says Calibra was created to keep the financial and accounting information separate, Calibry will keep the transactions private and that the user's personal financial data will not be misused for cross-selling, but with the phrase "unless users allow it themselves". Facebook promises that Calibry data will not be provided to Facebook for advertising purposes, but does not say that Facebook data will not be provided to Caliber. But Facebook has a relatively long history of using the pitfalls to give consent, and so it can be assumed that this will be the case with Calibry. From there, it is only a small step to make Calibry, by modifying the terms or in exchange for some minor consideration, that the user unwittingly allows Facebook to receive data about his financial transactions. Libra and Calibra are finally Facebook products.

Transactions are, like Bitcoin, pseudonymous, and members of the association should not have direct access to user data unless they reveal themselves in an improper way, otherwise it is in the case of Facebook, as almost all Libra users will use one of its services (Facebook, Messenger, WhatsApp…) and to pair transactions with individual user accounts from there is no problem.
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Updated 5 years ago

Rating changed from 4 to 3

- Well after some time for me it's safe to say that Libra can be a good project, but it's not crypto at all. I would say that it's more like paypal or a simple bank. They are using crypto because it's trendy or whatever, but also they are easy for the government to shut down in case they don't like it. IDK what will this bring to the crypto space this might be good short term, but long? 
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Pros