Expanding its user base to the “unBooked” in the developing world won’t replace us high-dollar users in wealthy countries. But giving users $50 to try out the new payments system would show users than Facebook does respect and value your data and privacy.
The most promising aspects of digital assets—transactional speed and freedom, financial inclusion, and most of all anonymity—are antithetical to Chinese Communist values. And yet, in many respects, China has taken the lead on investing in this burgeoning technology.
It’s one of the worst kept secrets in crypto: The recent rally in Bitcoin came from a massive issuance of tethers.