Writing at The Conversation, author Jennifer Grygiel of Syracuse University contributed this fantastic article about Facebook’s announcement of its new cryptocurrency, Libra.
This is a particularly powerful section:
Facebook’s entrance into the financial industry is a threat to democracies and their citizens around the world, on the same scale as disinformation and information warfare, which also depend on social media for their effectiveness.
It may be hard for world leaders to understand that this is an emergency, as they cannot see the virtual powers aligning against them. But they must huddle quickly to ensure they have – and keep – the power to protect their people from technology companies’ greed.
Grygiel goes on to describe how Zuckerberg is essentially building something similar to the Roman Empire, with a central bank, currency and himself as the corporate dictator.
Ever since reading George Orwell’s Nineteen Eighty-Four, I wondered what would come after the nation state. As our world becomes increasingly globalised, do we really face a future of megastates? It seems like we do, however we haven’t really considered the possibility that such nations won’t be national in the traditional sense. What if this dystopian future of surveillance—which is already upon us in many ways—actually gives birth to a new type of nation: the ‘corpornation’? Indeed, will we start to see ‘corpornational’ wars between Facebook and the likes of Google, Amazon and WeChat in the future?
This may sound ridiculous but people around the world are increasingly losing their belief in traditional institutions and political systems. The leaders of the future may be corporate rather than parliamentary.
My advice is simple: delete your Facebook account. Be a part of the open Web instead.