Facebook Wanted to Create a New Currency. It Wasn’t Ready for the Backlash.

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Facebook pledged to change the world with a new cryptocurrency. Instead, lawmakers opposed, regulators balked, and partners fled.

David Marcus gathered a team inside Facebook Inc.’s headquarters in May to toast a skunk works project a year in the making: a bitcoin-like payments system that the social-media giant figured would upend the global flow of money.

“We’re going to change the world,” Mr. Marcus, a Facebook executive and the project’s architect, told employees as they sipped Champagne, according to a person familiar with the matter.

 

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Bitcoin is no use?

FB can’t even fixed its privacy loopholes, now talk about a secure cryptocurrency? Kinda a joke!

That's right... ;)

I kinda feel like Facebook has done enough the change the world already.

Libra is like airline miles, hotel or restaurant points.

Womp womp

Yaaay!

Cryptocurrencies can't and should't be regulated. Thats the attractive thing about them.

Just another step in Facebook trying to take over the world, control our currency.

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