Vitalik Buterin Critiques Libra with Facebook’s Myanmar Military Censors

Ethereum co-founder Vitalik Buterin has weighed in on the debate surrounding the mooted Facebook cryptocurrency Libra, pointing out that it may have the unintended consequence of making Facebook more power than many national governments if implemented.

Commenting on his Twitter handle over the weekend, Buterin highlighted an August 2018 story from the Facebook newsroom showing that the social media giant banned several pages, groups and profiles linked to the Myanmar military regime.

According to Buterin, this story sets a precedent for a new phase in the power dynamic between nation states and corporations in the 21st century – one that would be further heightened if Facebook achieves its goal of launching Libra. It will be recalled that in June, CCN reported that credit rating agency Fitch gave its blessing to Libra, praising its stability and its potential to reach some of the world’s last large unbanked populations in developing countries.


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Author: Neo Anderson

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