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David Marcus, the head of Facebook’s blockchain subsidiary Calibra, testified before the Senate Banking Committee today. He said Calibra will be interoperable, so users can send money back and forth with other wallets, and he committed to data portability, so users can switch entirely to a competitor.
At the same time, Marcus said Facebook will embed only its own wallet into its messaging apps Messenger and WhatsApp, which could give the company a sizable advantage.