The real risk of Facebook’s Libra coin is crooked developers

Everyone’s worried about Mark Zuckerberg controlling the next currency, but I’m more concerned about a crypto Cambridge Analytica. Today Facebook announced Libra, its forthcoming stablecoin designed to let you shop and send money overseas with almost zero transaction fees. Immediately, critics started harping about the dangers of centralizing control of tomorrow’s money in the hands…

Published 7 years ago in 2nd July 2019

By John

Everyone’s worried aboutMark Zuckerberg controlling the next currency, but I’m more concerned about a crypto Cambridge Analytica.

Today Facebook announced Libra, its forthcoming stablecoindesigned to let you shop and send money overseas with almost zero transaction fees. Immediately, critics started harping about the dangers of centralizing control of tomorrow’s money in the hands of a company with a poor track record of privacy and security.

Facebook anticipated this, though, and created a subsidiary called Calibra to run its crypto dealings and keep all transaction data separate from your social data. Facebook shares control of Libra with 27 other Libra Association founding members, and as many as 100 total when the token launches in the first half of 2020. Each member gets just one vote on the Libra council, so Facebook can’t hijack the token’s governance even though it invented it.

With privacy fears and centralized control issues at least somewhat addressed, there’s always the issue of security. Facebook naturally has a huge target on its back for hackers. Not just because Libra could hold so much value to steal, but because plenty of trolls would get off on screwing up Facebook’s currency. That’s why Facebook open-sourced the Libra Blockchain and is offering a prototype in a pre-launch testnet. This developer beta plus a bug bounty program run in partnership with HackerOne is meant to surface all the flaws and vulnerabilities before Libra goes live with real money connected.

Yet that leaves one giant vector for abuse of Libra: the developer platform.

Facebook announces Libra cryptocurrency: All you need to know

“Essential to the spirit of Libra . . . the Libra Blockchain will be open to everyone: any consumer, developer, or business can use the Libra network, build products on top of it, and add value through their services. Open access ensures low barriers to entry and innovation and encourages healthy competition that benefits consumers,” Facebook explained in its white paper and Libra launch documents. It’s even building a whole coding language called Move for making Libra apps.

Apparently Facebook has already forgotten how allowing anyone to build on the Facebook app platform and its low barriers to “innovation” are e

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Artists can express humanitarian concerns, but not undermine public order and security: Tan Kiat How

Advertisement Singapore Artistes can express humanitarian concerns, but not undermine public order and security: Tan Kiat How Senior Minister of State Tan Kiat How cited several performances dealing with social and humanitarian issues that had been allowed to proceed in Singapore. Robert Del Naja and Grant Marshall from Massive Attack stand with a Palestinian flag

Published 2 weeks ago in 25th September 2026

Singapore

Artistes can express humanitarian concerns, but not undermine public order and security: Tan Kiat How

Senior Minister of State Tan Kiat How cited several performances dealing with social and humanitarian issues that had been allowed to proceed in Singapore.

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Justin Ong Guang-Xi

SINGAPORE: Artistes can express humanitarian concerns about international conflicts, but such expression should not undermine public order, security or stability in Singapore, Senior Minister of State for Digital Development and Information Tan Kiat How said on Thursday (Sep 10).

“Singapore should not be used by foreigners as a platform to further political causes, including those relating to conflicts or political issues overseas,” he said.

Artistes, whether Singaporean or foreign, are expected to abide by Singapore’s laws and the conditions of the arts entertainment licence when performing here, he added.

Mr Tan was responding in parliament to MP Hazlina Abdul Halim (PAP-East Coast), who asked how authorities distinguish prohibited political advocacy from expressions of humanitarian concern.

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She also asked how an artiste’s intent and the context of an expression are taken into account, and whether licensing conditions would be reviewed to exclude peaceful expressions of support for humanitarian causes.

Mr Tan said that besides an artiste’s intention, the Infocomm Media Development Authority (IMDA) considers the likely impact of a performance when assessing whether it meets licensing conditions.

Under IMDA’s Arts Entertainment Classification Code, content should not undermine public order, national security or stability.

The code, which sets out the framework for assessing and classifying live or public arts entertainment, also states that content should be “sensitive to the concerns of different racial or religious groups and the prevailing community expectations of what is necessary to safeguard racial harmony and religious harmony”.

In July, members of British band Massive Attack were issued stern warnings and barred from re-entering Singapore after flying a Palestinian flag during a concert, with one of the members shouting “Free Palestine”.

06:31 Min

The government recognises the humanitarian impact of international conflicts and that artistes may wish to express concern for those affected. Such expressions are not prohibited but should not undermine public order, national security or stability in Singapore. This condition is made clear in the Arts Entertainment Classification Code issued by the Infocomm Media Development Authority. Senior Minister of State for Digital Development and Information Tan Kiat How highlighted this approach in reply to an MP’s questions in parliament on Thursday (Sep 10). He stressed that Singapore should not be used by foreigners as a platform to further political causes, including those relating to conflicts or political issues overseas.

Ms Hazlina asked Mr Tan for examples of performances involving social causes that had been allowed to take place.

He cited To The Unforgotten, an event held in May this year that featured a song, poem and multimedia artwork about the Israel-Gaza conflict. It was classified R18.

Another example was 6 Microlectures on Genocides. Also classified R18, the play comprised short works that explore themes of genocide, war crimes and contemporary conflicts, Mr Tan said.

He also pointed to the 2024 stand-up comedy show Namaste, which was classified Advisory 16 and included a segment in which comedians spoke about the Israel-Gaza conflict.

“So having material and content on causes itself is not prohibited, and the licensing framework is designed to, of course, protect young people from unwanted content, but also allow people to make decisions on what they can watch,” said Mr Tan.

“But at the same time, having some boundaries on the kind of content that may stir up public disorder or national security considerations.”

Mr Tan said assessments were “very contextual” and encouraged applicants for Arts Entertainment Licences to engage IMDA early.

“The earlier the applicants engage IMDA, the earlier conversations can start, and earlier we can give clarity and guidance on the kind of content that may be approved and

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The actors returned 85% of the Bitcoin withdrawn from Liquid’s federation wallet following the security incident…

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The real risk of Facebook’s Libra coin is crooked developers

Niger Miners’ Deaths: CSOs Demand Transparent Probe, Caution Against Speculation

Artists can express humanitarian concerns, but not undermine public order and security: Tan Kiat How

Artistes can express humanitarian concerns, but not undermine public order and security: Tan Kiat How

Justin Ong Guang-Xi

Trezor Email Provider Breached in Phishing Attack Targeting Crypto Users

Liquid ‘white hats’ return $270M in Bitcoin as network prepares restart

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