Facebook's new digital currency, Libra, is a monumental move - although not for the reasons you might initially think.
The second confusion arose from Facebook's presentation. To hear its representatives speak, Libra was designed solely to help the 1.7 billion people who don't have access to banking services - in particular, to help them send money abroad quickly at low cost. Not because Facebook is doing anything so innovative: it's effectively reinvented PayPal, only with Facebook Pounds instead of regular ones.
Facebook's vast size is especially important in the developing world, where most of the so-called unbanked reside. All because it's on Facebook - which is also the reason Libra should be regarded with a healthy degree of scepticism.
Yawn, it won’t last five minutes!! Cryptocurrency has been around a long time with very well established coins that have deep rooted following. If Facebook thinks it can just walk in and claim to revolutionise currency it has severely missed the boat!!
Would not trust Facebook, currency likely to used mainly by criminals...
Yeah, ok.
All advertisement fb anyway
Or not! The financial system needs to be threatened but it can’t come from the types at facebook. It needs to be a whole new group of people who are not vile and corrupt.
fingers crossed
As my son says “middle agebook” only old people who think they are hip will use it!! And probably get scammed by it!!
Facebook is corrupt.
Good
A big tech company such as Facebook monopolising the economy is deeply concerning.
Fakebook has a huge issue with scams at the moment and the vast number of people who believe them, I don't think this is a good idea until they've become better at policing their own platform.
What's next newspeak like in 1984?
I wouldn't dare send money with FB purely because you risk getting banned for upsetting one of the many delicate little flowers that frequent it.
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