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XRP · 2w

Explain like I'm 5 why Libra won't crush Ripple

I understand (very little) about this stuff which is why I'm creating this thread I get that Ripple has been carefully cultivating relationships with major banks around the world and has a positive relationship with them as well as leaders at the IMF, that there is open hostility to Libra from many of these same institutions out of understandable concern regarding Facebook's history of unethical business practices, and that there are structural differences between the two formats (although I don't really understand *what* they are) Where I'm concerned is whether these points will end up really mattering in the long run due to Facebook's ability to throw money at any problem they come up against, if necessary change Libra's model to better compete with Ripple and the familiarity billions of Facebook users will have with Libra seemingly by default. For example, right now everyone in the US Congress in the EU Parliament is saying Hell No to working with Libra. But for how long? Say FB spends five years throwing money at the problem, “working on the concerns of the regulators”, changing the Libra model somewhat to assuage concerns, hiring armies of lobbyists to iron out pain points here and there, not to mention Visa and the other Libra members doing the same thing, basically a massive concentration of silicon valley and fintech power brokers doing *whatever they need to do* to win. How does Ripple stand up to that and win? It reminds me of OneWeb and SpaceX battling for supremacy in the satellite internet market over the last few years. Greg Wylder came on the scene out ahead of everyone by several years with his OneWeb project. 800 satellites providing the planet with internet, and oh by the way we've already secured priority access to the best wireless spectrum through the ITU, so any late entrants will legally have to work around our system. We're already building the satellites and have launches booked. Checkmate. Then Elon and SpaceX with orders of magn...
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