Libra, the iTunes App Store for crypto devs

This post was originally published on June 19, 2019, and sent to Messari Pro subscribers.

Here’s a great idea I had yesterday:

“Everyone will be rushing to get out their Facebook / Libra hot takes as the press embargo lifts at 5am ET. We’re gonna take the day to absorb the chaos of research, analysis, crypto twitter snark, and MSM pieces around the announcement…then curate the top insights and reactions.”.

Well, holy sh*t. Turned out people had a lot to say on the subject. We sat on last night’s post as it came together a bit later (and meatier) than expected.

It’s hard to know where to begin on the Libra news, but NLW curated many of the top gems and initial reactions from crypto twitter already. Check out his Messari board on the subject if you want to keep up with the weird rants and fall down Libra’s snark rabbit hole. (We love how the whole Libra conversation is twitter centric, btw.) On my end, I did a quick Q&A segment on Bloomberg Markets yesterday afternoon in which I barfed out my top takeaways on why I think this is the top development in the industry since the launch of Ethereum. It was a pretty good forcing function for me to cut the crap and focus on the meat of this announcement amidst the sea of noise:

1) At 2.4 billion users, the nation of Facebook is essentially creating a private central bank (a big deal).