Motion: Diem is a glorified Paypal (David Gerard vs. Bryce Weiner)

Guests:

David Gerard (twitter.com/davidgerard)
Bryce Weiner (twitter.com/bryceweiner)

Host:

Richard Yan (twitter.com/gentso09)


Today’s motion is “Diem is a glorified PayPal.”

Diem of course used to be called Libra. It’s a cryptocurrency floated by Facebook in 2019. It was a big deal back then. A global borderless currency for 2 billion install base is a game charger for commerce and remittances, and would have implications on capital control. There were some very high profile congressional hearings held on this matter with Facebook executives including Mark Zuckerberg. This also supposedly accelerated the adoption of CBDC by certain countries.

So, what are the ambitious promises and regulatory constraints around Diem? What are the politicians’ biggest concerns on Diem? Will it end up getting reduced to a PayPal? How will Facebook make money from this? Our two guests will cover all of the above.

If you’re into crypto and like to hear two sides of the story, be sure to also check out our previous episodes. We’ve featured some of the best known thinkers in the crypto space.

If you would like to debate or want to nominate someone, please DM me at @blockdebate on Twitter.

Please note that nothing in our podcast should be construed as financial advice.


Source of select items discussed in the debate (and supplemental material):

• Diem official page: Diem.com
• Summary of Zuckerberg congressional testimony on Libra: https://techcrunch.com/2019/10/23/zuckerberg-testimony/
• David Gerard's book on Diem "Libra Shrugged: How Facebook tried to take over the money": https://davidgerard.co.uk/blockchain/libra/
• Tao network: https://tao.network/

Guest bios:

David Gerard is the author of two crypto books, “Libra Shrugged: How Facebook tried to take over the money” and "Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum and Smart Contracts." He is a no-coiner, and writes a popular no-coiner newsletter also named “Attack of the 50 Foot Blockchain.”

Bryce Weiner is a former Fortune 500 developer with over 20 years of software engineering experience, with nearly a decade in cryptocurrency development and monetization. He is the lead developer of the Tao smart contract network and the CEO of US-based exchange AltMarket.