Will Facebook's Libra effect the price of Steem?

So, Facebook or the Libra Association dropped the Libra White paper yesterday. The big question. Do you think it will impact the price of Steem?

Here's a couple of points; Libra has the benefit of being backed by a FIAT reserve of liquid assets. It has a slew of global corporations backing it and involved a founders of the association. It's being touted as a stable coin using the reserve to stabilize the price of the coin. Theoretically the coin will not fluctuate wildly like Bitcoin or any of the alt-coins because of this reserve.

I guess it really depends if it will make it as a coin. Unlike Bitcoin or and of the other Alt-coins, Libra is run and governed by a consortium. They are trying to negate that fact by ensuring that the blockchain code is open source. You can view the source here: https://github.com/libra/libra

Some of the technical stuff

The Libra blockchain uses 'validators' to process the transactions (the witnessess). The blockchain uses a Byzantine fault-tolerant (BFT) consensus protocol and is a variant of Hotstuff consensus protocol. They are referring to it s LibraBFT which essentially says that most of the validators need to agree, but not all of them. It essentially establishes a leader, of the validators, each round and determines if the blocks should be accepted based on the voting of all the validators. Then the cycle continues for the next block with a new leader.

Libra also introduces the Move programming language. Well, reintroduces it. It's actually been around for 8 years or so and was written by Rasmus Andersson. Andersson is a Swedish designer that has worked for Dropbox, Facebook and Spotify. Move is billed as a simple powerful language that can run anywhere there is a ES3 javascript runtime, It is used to implement custom transactions and smart contracts on the blockchain. Move was designed with four key goals in mind: first-class assets, flexibility, safety, and verifiability. This is an all in one package not found in the Bitcoin UTXO's or the Etherium EVMs.

Check out this script snippet... not to difficult:

public main(payee: address, amount: u64) {
let coin: 0x0.Currency.Coin = 0x0.Currency.withdraw_from_sender(copy(amount));
0x0.Currency.deposit(copy(payee), move(coin));
}

The consumer side

Lot's of information to digest for sure. I've put a bunch of links in the bottom to some of the resources. Oh, the wallet. I'm sure there will be more 'wallets' or payment interfaces. The one Facebook is releasing is called Calibra. It's being put out by a Facebook subsidiary... Calibra.

Here's some screen shots.

Here's a video... for your viewing pleasure

Ok, so the big question. Will the launch of Libra impact Steem, for better or for worse? What do you think?

Ref:
https://libra.org/en-US/white-paper/
Hotstuff Consensus
Move Programming language
https://calibra.com/
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