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Is Stripe's Tempo going to be a replay of Libra (Facebook's attempt at a payments solution)?

Libra turned into Diem which was wound down in 2022 (source). One of the people involved in Libra wrote this interesting thread about Stripe's new Tempo blockchain:
The only question is if Stripe can write a different ending for the movie Meta already showed us.
The thread's author believes Libra failed because
We had a bad case of Silicon Valley hubris—the belief that elegant code can simply wish away centuries of financial regulation. We announced our plan to reinvent money with the subtlety of a foghorn, giving every incumbent on the planet time to find their pitchforks.
He seems to think that Tempo may have a better chance at avoiding the pushback Libra received:
There is a simple story one could tell about why Stripe will succeed where Libra failed. A story of better timing, a better brand, and the wisdom of being a second mover. In this story, Tempo is the inevitable winner.
But, he also says it wasn't actually regulatory pushback that killed Libra: it was the big banks via Janet Yellen (citing a post by David Marcus, who is currently leading Lightspark).
He goes on to say that what really killed Libra was that it wasn't permissionless.
It's the same fundamental economic truth we identified at MIT almost a decade ago: the only thing that truly separates crypto from the systems it aims to replace is that it's permissionless. Full stop.
And the author of this thread doesn't think that Tempo is permissionless at all.
If corporate chains like Tempo and Arc succeed, it will mean the crypto experiment was not a revolution, but a failed coup. The backend technology would be different, yes, but the market structure would be eerily familiar.

We all know this, but the question is can something like Tempo be succesful enough (can it pull in enough users) that it meaningfully delays the adoption of bitcoin?

21 sats \ 0 replies \ @OT 7h
If Facebooks Stablecoin launched under Trump 2.0 it would most likely be bigger than Tether. Tempo is yet to be seen. I mean other big banks will probably want to launch their own or simply change their banking model.
Will this delay the adoption of Bitcoin? It probably will for a period of time. All these stablecoins will suffer from issues of centralization. Banks and governments will fight out their power and influence.
Meanwhile Bitcoin will still be there finding blocks, and bitcoiners will hopefully educating newbies on how to use it.
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21 sats \ 0 replies \ @ek 7h
I wonder why our search for related posts thinks this is about the lightning network and doesn't put #1207145 at the top:
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David Marcus and Lightspark? Maybe most of the posts talking about that have been connected to Lightning? But, search on SN is a fickle beast...
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Whether it does or doesn't, Stripe offers no freedom.
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