FacebookMoney

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For a long time I expected Facebook to become a market for its users. A kind of EBay where they could sell stuff to each other.

I'm still surprised it hasn't.

But it has been talking about having its own money for a long time.

Seems that's now here https://www.diem.com/

And on StableCoins I point out that the BankOfEngland is warning against the dangers of this embracing and extending of the UK pound.

2022 : US regulators have quashed it : https://www.cnbc.com/2022/01/26/mark-zuckerbergs-botched-cryptocurrency-project-is-reportedly-for-sale.html

Looks like the state is beating social media in this skirmish of TheUltimatePlatformWar

YanisVaroufakis's TechnoFeudalism argument suggests why Facebook didn't embrace becoming an open market like EBay. It's that platforms are NOT markets. Platforms want a 1-many relationship with users they have corralled into them. Not a many to many relationship between users. They want to be