Facebook's Libra Lacks Foundational Components for Crypto Key Security

After a review of the technical documentation describing the Libra protocol and its planned ecosystem, I believe the company left out the foundational components of user security.

The new model for consumer compliance should operate like a doctor's note does today.

A trusted third party parses my child's real-time health data and provides a compliance result to the school, resulting in my child having an excused absence for being sick.

If schools used the same model of compliance that the internet does, they would have direct real-time access to childrens' medical data and use AI to decide if your child should stay home or not.

Whether or not Libra succeeds in its mission to deliver the "Internet of Money," cryptocurrency represents the ability to have borderless money that can rely on real-time transaction-based compliance.

There may ultimately be only a few global currencies with immutable transactions there will be an infinite number of groups built around compliance at differing levels, establishing global cross-border commercial virtual networks built to conduct secure and provable business in a specific market.

The use of a smart instruction to provide provable evidence of identity, compliance, and controls, offers a flexible and scalable model.

The cornerstone is then laid for automation and AI-based systems to provide monitoring and evidence-based compliance with reduced need for any real personal identifiable information or data leakage.

The future is decentralized and the technologies of blockchain will usher in the "Internet of Money." Secure devices and trustworthy computing will provide users with the protection, compliance, control, privacy and freedom they need for the digital future.

Private compliance communities will provide digital evidence on a need to know basis.