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Facebook’s Libra payment protocol could make central and commercial banks irrelevant, but PayPal has no future anyway, the CEO of derivatives giant BitMEX thinks. Arthur Hayes made the comments in a new interview with Taiwanese news network BlockTempo TV on July 9.
Fed to Probe Facebook's Libra as Powell Points to 'Serious Concerns'
Year - Asia - Blockchain - Summit - ABS
Speaking during this year’s Asia Blockchain Summit (ABS), Hayes made grim forecasts for both banks and fiat-based payment networks.
Libra, which saw its whitepaper release last month but has yet to launch, has drawn both praise and criticism from across the international economy.
Hayes - Participants - Banks - Libra - Platform
For Hayes, participants who should be most worried are banks themselves. Even if Libra is a centralized platform which can freeze out specific transactions and users, banks will still face major upheaval.
“All a bank is relegated to is...
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"However, when the Son of Man comes, will he find faith on the earth?" Luke 18:8