>> WELCOME
>> BACK CENTERS CRYPTO CRAZE
EVERYONE.
>> YESTERDAY'S HEARING OVER
FACEBOOK LEVER PROJECT MANY
LAWMAKERS VOICED. THE FRONT
SEAT
WITH ME MORE ON THIS WE'RE
JOINED BY TO HER ERA DIGITAL
RISK REPORTER FOR AND LIFE
>> YESTERDAY THAT FACEBOOK WILL
NOT ALLOW ANONYMOUS WHILE IT,
BUT CAN'T STOP OTHER
ORGANIZATIONS. YOU THINK THAT
WILL BE ENOUGH TO SATISFY
LONNIE.
>> KERBER DOBBS HE FACES A HUGE
DEFICIT OF TRUST AND AMONG
OTHER THINGS HE SAYS THINGS
LIKE HE DOES CONTROL THE LIBRA
ASSOCIATION WHICH.
ALMOST NOBODY BELIEVES HIM OUT
WHEN HE SAYS THAT SO WHEN HE
SAYS
WELL IT IS GOING TO
FOLLOW KNOW YOUR CUSTOMER A
PROCEDURE THAT SAME TIME SAYS
HE'S POWERLESS TO PREVENT.
ANYBODY USING BE.
TRUMP BY A ACCEPTING A
ANONYMOUS WELL IT'S BEEN DONE.
HE FACES A REAL DEFICIT OF
TRUST.
>> YOU KNOW IF I CAN BE FRANK I
THOUGHT THIS WAS A MISSED
OPPORTUNITY FOR MARK ZUCKERBERG
TO SHOW WHY REGULATORS SHOULD
TRUST FACE BOOK HAS AT
LEAST A CAPTAIN FOR THIS
PROJECT FAILED TO SHOW THAT
FACEBOOK HAD A STERN CONVICTION
FROM THE CEOS POSITION AS
TO WHY THEY WERE GOING DOWN
THIS PATH BECAUSE WHEN HE WAS
ASKED ABOUT WHY CONSUMERS
SHOULD
TRUST THEM AND SHOULD TRUST
THIS PROJECT THE KIND OF WAITED
INTO THIS TERRITORY WHICH WAS
MORE WE'RE LIKE WELL, YOU KNOW
IT WILL BE AN OFFERING THAT
WILL PUT OUT THERE WE'LL SEE IF
THEY COME TO IT AND THOSE WHO
COME
TO IT WE'LL MAKE SURE THAT IT'S
THE BEST ENVIRONMENT FOR THEM,
BUT THAT'S THE FREE MARKET THAT
WE LIVE WITHIN THAT PEOPLE CAN
TAKE ADVANTAGE OF IT
THEY WANT AND THEY CAN STEER
CLEAR OF IT IF THEY DON'T WANT
TO I DON'T FEEL THAT ANYBODY
GOT ANY CONVICTION AS TO WHY
THEY NEEDED TO HAVE LEVER AT
HEARING THAT TESTIMONY THAT WAS
JUST MY TAKE DAVE OF THE
BARRIERS.
>> NO I WOULD AGREE HE DIDN'T
DO HIMSELF ANY FAVORS
WE CITY WAIT WASN'T EVEN SURE
IT'S A LEVER WAS GOING TO WORK.
SO YOU KNOW I WOULD AGREE TO
THIS HIMSELF UP FOR SUCCESS.
ONE ARGUMENT THAT FACEBOOK IS
TRYING TO ME IT IS THAT IF WE
DON'T DO IT SOME DEALS WITH
YOU. PROBABLY THOSE OF THE
PEOPLE WILL BE.
VERY EXPLICITLY TRYING TO SET
HIMSELF TRYING TO PITCH HIMSELF
TO LAWMAKERS
TO BE A WEIRD AMERICAN COMPANY
WITH AMERICAN VALUES SO
THEREFORE WE SHOULD BE ALLOWED
TO TO SEEN ON THIS AND THE
PROBLEM IS IS THAT ARGUMENT
WE'RE NOT CHINESE IT IS IN
THAT'S NOT WORKING.
>> AND YOUR POINT AND
I BELIEVE IT
MAKE HENRY THAT EVEN SAID WHY
DIDN'T YOU JUST CREATE AN
ALTERNATIVE TO THE CHAT PAY YOU
KNOW AT
THE TIME YOU WANT TO BE
COMPETITIVE WITH A MAN IN BLACK
RIVER HAS A LONG AND
INTERESTING RELATIONSHIP WITH
IT IS ABOUT DIRECT COMPETITION.
SO WHAT DO YOU SEE AS THE
OVERALL OUTCOME BECAUSE AS I
SAID EARLIER ON THE SHOW IS
THAT THE REPUBLICAN HE SAID
THROUGHOUT THE HEARING THAT HE
DOES
RECOGNIZE THAT THERE ARE OTHER
PLAYERS IN THE PAYMENTS
ECOSYSTEM TRYING TO CREATE A
SIMILAR THING AND GLOBAL
DIGITAL CURRENCY THAT'S MORE
INCLUSIVE THAT'S MORE
AND HIS IS POINT OF VIEW SEEMS
JUST THE WE THOUGHT WE HAD TO
DO SOMETHING BECAUSE WE'RE
FACEBOOK EVEN THE WEEK IS 21
MEMBERS OF THE LIBRA
ASSOCIATION AND ALL
OF THESE HERE'S THE SPACE
WILLING TO DO IT SO DO YOU
THINK THAT THIS IS GOING TO GO
FORWARD ULTIMATELY IN THE NEXT
FEW YEARS.
>> WHO SHOULD ANY IT WILL PUSH
THE STICK WAS SAYING THAT A
LEADER WAS GOING LAUNCH IN
2020. THAT CERTAINLY SEEMS
LESS LIKELY. AND THAT'S BECAUSE
CONGRESS BUT BECAUSE OF WHAT
THE WORKING GROUP G 7 HAS SAID
BECAUSE OF A REGULATORS FROM
AROUND THE WORLD VOICING DOUBTS
ON THE OTHER A FACEBOOK HAS A
TRACK RECORD.
PUSHING AHEAD WITH THINKS.
SO I WILL WILL SUCKER GET
INCREASE
BASSIST SIMPLY BECAUSE THEY'VE
RUN INTO CRITICISM THAT'S A HER
PREDICTION TO MAKE.
>> ESPECIALLY FROM THE
REPUBLICAN SIDE THERE WAS A LOT
OF SUPPORT THE
IDEA OF WHAT WE'RE ASSOCIATION
IS TRYING TO DO THEY SEEM TO BE
VERY ANTI FACEBOOK.
>> THE WAR
THE RACE FOR CENTRAL BANK
ISSUED DIGITAL CURRENCIES SEEMS
TO BE
HEATING UP.
>> ESPECIALLY ON THIS EACH DO
YOU THINK THAT THIS IS
SOMEPLACE WHERE THE US
GOVERNMENT SHOULD
TAKE LEADERSHIP RATHER THAN
HAVING A PROPER ANY PREPARATION
ANY PRIVATE CREATE.
>> WELL YOU'RE ASKING ME TO
THINK TO SAY WHETHER OR NOT THE
GOVERNMENT SHOULD DO SOMETHING
A BIT.
I DON'T KNOW
IT COVERS ORIGINAL POINT THAT
THE
FINANCIAL SYSTEM CREATES A LOT
OF FRICTION FOR ORDINARY USERS
FOR EVERYDAY USE NEWS THAT
CERTAINLY SEEMS
TO HAVE SOME VALIDITY A SUCKER
FOR A SAID DURING THE HEARING
REPEATEDLY THAT THE FINANCIAL
INFRASTRUCTURE, OTHER WORDS,
I'M WITH IS A SEVERAL DECADES
OLD AND HE DOES HAVE A POINT
THERE.
WHETHER THAT CREATES AN
OPENING FOR THE FEDERAL
GOVERNMENT STEP IN AND CREATE A
A DIGITAL
ONLINE CURRENCY OR WHETHER WERE
PERFECTLY SUITED TO THE TO THE
PRIVATE SECTOR IT'S PROBABLY A
PHILOSOPHICAL QUESTION.
>> WILL LOOK I WAS ABOUT TO ASK
YOU THAT THOSE TOPICAL QUESTION
DAVID BECAUSE FACEBOOK ASIDE IS
THE
FUTURE OF FINANCIAL
INFRASTRUCTURE, EITHER HERE IN
AMERICA OR SOMETHING THAT IS
MORE KIND OF STUDENT TO
BE INTERNATIONALLY SERVED UP IS
THAT SOMETHING THAT IS BETTER
RUN BY A CONSORTIUM OF CENTRAL
BANKS OR BETTER RUN BY
A CONSORTIUM OF THE LARGEST
COMPANIES THAT REPRESENT EACH
DIFFERENT NATION.
>> I'M JUST A COUNTRY REPORTER.
THAT THAT THAT'S A
LITTLE BIT. PUBLIC A GRAPH
REALLY SORRY I HAD TO HAVE TO
SIT THAT ONE OUT.