Zuck & Co know that hash is king • The Register

Analysis Facebook’s proposed digital currency Libra, and its accompanying digital wallet Calibra, should be scrutinized not only by financial regulators – as lawmakers in the US and Europe have already started to do – but by national entities concerned with law, public safety and defense.

The reason for that, argue Valerie Khan, VP of the Digital Equity Association, and Geoffrey Goodell, senior research associate at University College London’s Centre for Blockchain Technologies, is that Facebook is interested not in finance but identity.

Their opinion paper, “Libra: Is It Really About Money?”, answers the question posed by its title with the assertion that Facebook’s ulterior motive is to become the world’s digital identity provider.

Pointing to the classic 1993 New Yorker cartoon captioned, “On the internet, no one knows you’re a dog,” the two authors contend that being able to accurately…