On the one hand, this is great for the main-stream adoption of crypto and blockchain tech. (Facebook could create a great UX for crypto adoption).

On the other hand, Facebook has had a history of bad, really bad behaviour, when it comes to privacy and mining users for data. With this, FB would have both control *and* data on who/what users can spend on — essentially a walled garden of their own economy.

This much power and trust should not be given to one entity, else it’ll be the USD all over again. I would hope that an open alternative that is UX friendly takes over as the de-facto currency.

Perhaps the Dai? But Dai is not (yet) user friendly, widespread, accepted nor trusted by mainstream.

Who knows, maybe $KIN may have something up its sleeve.