Nobody's Gonna Trust Your Corp Chain

The central question explored is whether global money rails should be owned by corporations or remain open and decentralized. Christian Catalini, co-founder of Lightspark and former architect of Meta's Libra project, argues against corporate control, drawing from his experiences with Libra. He emphasizes that despite regulatory hurdles, the main challenge for corporate chains is establishing trust and neutrality, as demonstrated by the fate of Facebook's Libra. Bitcoin's unique position as a censorship-resistant store of value and medium of exchange is highlighted, along with the increasing adoption of stablecoins, especially in regions with limited access to traditional banking. Catalini expresses hope that openness will prevail, citing Linux as an example of an open standard that unexpectedly won in the tech world.