Libra Hearings

When Libra was announced to the public, the crypto community let out a communal sigh of relief, and simultaneously an outcry of concern. When Facebook gets involved, you know that the product has real potential, but you also know that they want to control the outcome. Bitcoin purists maintain that it is of, by, and for the people. Bitcoin was created so an open, decentralized, permissionless form of currency could be spread far and wide. Libra is a corporate coin that is closed, centralized, and permissioned. The battle that is currently going on in Washington D.C. is ironic, because it seems both parties are battling over who can be in control of this new domain, while the origins of digital currency are founded on principles of de-control, and giving back power to the people from governmental and corporate influence. At the same time, it appears that the entire conversation has been hijacked by those folk who were not meant to be part of the party, while it nevertheless legitimizes the future of crypto, forcing those who played part in its origins, to redouble their efforts in keeping true to its stated goals. We humbly recommend that all crypto adherents whether developers, miners, end users, or theorists reach out to their local elected official to ensure that they are well informed when bringing to light these essential issues on Capitol Hill.