There are many readers who want to hear me talk about Facebook's release of the Libra cryptocurrency white paper.
Facebook intends to enter the digital currency field, the New York Times reported very early.
The New York Times quoted a number of people familiar with the matter as saying that more than 50 engineers have begun to work on Facebook's cryptocurrency and try to work with cryptocurrency exchanges.
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It is expected to launch an asset linked to foreign currencies such as the US dollar and the euro in the first half of this year.
Once used, Facebook and its WhatsApp users can immediately send it to friends and family.
Wall Street has previously mentioned that in May of last year, Facebook adjusted its organizational structure, and the new blockchain team was led by David Marcus, who led the former Messenger.
In September last year, Facebook dug up the former president of Paypal, David Marcus, who was accused of leading the encryption business of digital currency.
Compared with digital currency, Facebook should pay more attention to digital payment, which is deeply affected by Alipay and WeChat.
In the fourth quarter of 2018, the number of users of China Mobile Payment was as high as 990 million. During the Spring Festival of 2019, the number of WeChat red envelopes was 823 million.
Facebook has 2.32 billion social users, and it is normal to pay for this field.
Then let's take a look at the current digital currency, the most popular of which is Bitcoin.
The advantage of Bitcoin is obvious. It has no exchange rate problem. There is no exchange rate problem. It can trade freely around the world. You can even think that it is a game currency that can be exchanged for money.
But its problem is equally obvious, that is, price fluctuations are extremely intense.
It used to be worthless, and it was once hundreds of dollars, thousands of dollars, once rose over 20,000 dollars, and once again fell below 4,000 dollars.
Obviously, such a variety, you can hardly regard it as a currency in the traditional sense, and its violent fluctuations make it difficult to price or trade it.
So what does Facebook want to do?
It wants to mark the traditional currency.
Its argument is of course very official. Who is the target? Against the dollar, the euro, and so on.
But in fact, it is not difficult to imagine that Facebook’s doing this will definitely be against the dollar.
Why do you say that?
After the Bretton Woods system collapsed, the dollar no longer benchmarked against gold, and from that time on, the price of gold rose from $35 to $852 in the next decade.
Do you know that it will fall later and then continue to rise?
Very simple reason, the US is suppressing.
Until today, most of the time, the dollar and gold are reversed. The so-called dollar rises, gold falls, the dollar falls, and gold rises.
Unless there is a special period, such as high risk aversion, the dollar and gold rise.
In other words, the purpose of suppressing gold in the United States is to maintain its hegemony. This subtext is that it is not as safe as mine.
The reason is very simple, the same as a safe-haven currency, the total amount of gold is limited, the dollar is always printed.
If you don't use a country to suppress gold, how can others buy dollars to hedge?
There are many varieties that are manipulated in this way, regardless of food, oil, or other commodities in the international market, the United States is always controlling prices.
In fact, after the collapse of the Bretton Woods system, the second object chosen by the United States to continue dollar hegemony was oil.
This is also the so-called oil settlement in US dollars.
When you buy oil, you buy the dollar first, then buy the oil in dollars.
In this way, the dollar becomes the world currency.
Whoever holds the currency, who is the central bank of the world.
Therefore, people who have an impression should remember that ten years ago, it was the time of the financial crisis.
At that time, people in the international market were shorting the euro, why?
Because the United States took the lead in doing this, the United States encountered a crisis and desperately suppressed the euro to consolidate its position as a safe-haven currency.
I saw it, this routine is not very familiar, everyone is not safe, I am safe, everyone is not suitable for international settlement currency, I am suitable.
Because who dares to be safer than me, I am crushing who is not as safe as I am. This is the consistent gameplay in the United States.
If you are familiar with the US's long-standing control, it is clear that Facebook's so-called benchmarking currency.
In fact, it is against the dollar.
To put it bluntly, Facebook’s launch must be the primary reference to the US dollar, the internationalized digital currency based on the US dollar.
What is this background?
It is the hegemonic extension of the US dollar in the field of digital currency. After the oil, the United States hopes to continue dollar hegemony through digital currency.
To know that Facebook has 2.4 billion users, if it can be implemented, it is still very energetic.
But can this idea really land?
On this point, Ma Huateng replied to this in the circle of friends.
He said a word and said it was very good.
He said: "Technology is very mature, it is not difficult. Just look at whether regulation is allowed."
Why do you say that?
Let's look at a story.
Many people should still remember that before the listing of Ali in the United States, Ma Yun was at the forefront.
Because he did one thing.
Without the approval of the board of directors, he took Alipay out of Alibaba's asset package and transferred it to his newly-held company.
This incident caused an uproar in the past.
You have to know that the major shareholders at the time were Yahoo in the United States and Softbank in Japan. Ma Yun is actually a minority shareholder.
Many people have objections to this, such as Wang Xing of the US group.
He once said in an interview with foreign media:
This practice of Ma Yun is the act of ants Jinfu Alipay to dismantle the VIE structure, which is detrimental to the international credit of Chinese entrepreneurs.
Of course, if you look at it today, this is the pen of God. Otherwise, Alibaba will be listed on the NASDAQ. If Alipay is not removed, it will seriously affect our financial security today.
In fact, Ma Yun did not dismantle in the same year, because he never got the license of the regulatory authorities.
At that time, Yahoo had proposed the VIE model, which was a way of "fake domestic capital, real foreign investment" to defraud the license. Ma Yun believed that this was illegal and that he would have to go to jail.
In fact, he saw it very accurately. Alipay was just removed and he got the license right away.
This shows that the superior supervisory department is very transparent in thinking about whether the financial is foreign or domestic. It is very clear.
Then let's take a look today if Facebook wants to open digital currency business in so many countries and regions where 2.4 billion users are located.
Obviously, there are two problems that cannot be avoided:
First, LIBRA has to comply with the regulations of various regions, and it is very difficult to reach bank-level KYC and AML, because each region has great differences.
Second, LIBRA is not tied to a real ID, which can result in many accounts being created by anyone.
If you say that Facebook's first problem is that Ma Yun's first problem faced that year is repeated dozens of times.
Then the second question, in fact, is also a very difficult problem within the United States.
What do we know about the biggest advantage of digital currency?
It is highly liquid and secret.
The so-called secret, that is, this money is under my name, but this me, just an account, does not need to be a real existence.
This has facilitated many people around the world.
For example, A wants to give B a sum of money, and does not want people to know;
For example, a transaction occurred between A and B, and did not want to pay taxes;
For example, many transactions are not allowed, but can be done in digital currency;
Therefore, digital currency has always been the hardest hit area for illegal transactions, money laundering and tax evasion.
The US tax law is very strict, and it is very different from our usual life.
We believe that as long as the part of the wages that go to work is taxed, it is taxed.
As for the other, you buy and sell a house. Only when you trade, you need to pay taxes. When you buy and sell stocks, you have already received taxes when you trade. You charge rent. If you receive cash, this declaration is not declared. It is not very popular. Tubed.
In fact, many of our links can be traded in cash. For example, if you carry a few sacks of money to buy a house, you will also receive the sales office, and you will not ask where your money comes from.
But the United States is different.
Its tax is a system of individual declarations, and unlike ours, we only have wages withheld, and other modes of income taxation.
To put it bluntly, in the United States, bulk commodities cannot be traded in cash.
You can't buy a house with cash, people don't dare to accept it, and you can't go to the bank to deposit cash into any account.
All their financial transactions must be the money on the card. Because the money on the card is declared, it is written how to earn it, whether it has been taxed.
So you saw that their money is tied to people.
That is to say, this money has to have a master, there must be a head, if it has no owner, if it does not come, it is black money.
This is the second question I am talking about.
If Facebook binds digital currency to real people, how do you bind it?
You have to know that the systems of different countries are different.
In China, the transfer between the two micro-signals, I said to you, I will transfer it to you. Need a reason? No need.
Between China and the United States, the digital currency provided by Facebook can be changed like this?
If you can, there is already a problem with the US tax law. What is the relationship between the two people? What is the behavior? Why transfer? What business has happened? Is it a gift or a transaction? Is there a tax payment?
You saw a lot of problems.
A lot of non-technical issues.
Therefore, Ma Huateng said the sentence, the technology is not difficult, you can get the world beyond the technology, it is your skill.
Source: WeChat public number / memory bearer
Author: Bishu west wind