Episode 72 - Voting Power, Consortiums, and Facebook's Currency
Facebook’s proposed cryptocurrency called Libra is supposed to aid international transactions. Does it compete with banks, or does it compete with Bitcoin? And what are the chances that Facebook and their 100-member consortium of companies will follow through on this over the next few years?
We then turn to the idea of voting power, and learn about one important metric when it comes to analyzing voting systems: The Shapely Power Index. We’re dive into how it’s computed, what it means, and what it’s limitations are.
Today’s co-host is Maryam Aly. We recorded at Foursquare HQ.
Links to Related Articles
Facebook’s Full Libra White Paper
Techcrunch: Facebook Announces Libra Cryptocurrency
New York Times: Launching a Global Currency is Bold, Bad Move for Facebook (Includes the Logo Circle)
Wikipedia: Shapley-Shubik power Index
My Favorite Theorem: Episode 32 with Anil Venkatesh on Shapely Values, their application to the UN Security Council, and a related theorem on how this quanitifes voting power.
Links to Related Episodes
Episode 48 on Social Choice Theory and Voting Systems with Daniel Kronovet
Episode 37 with Naomi Brockwell, who has more commentary on Libra
Episode 45 on Maryam’s Experience at Google
Episode 36 on the Google Graveyard
Episode 5 on Ethereum and Understanding Blockchain