Facebook
has announced a digital currency called Libra that will allow its
billions of users to make financial transactions across the globe, in a
move that could potentially shake up the world’s banking system.
Libra is being touted as a means to connect people who do not have
access to traditional banking platforms. With close to 2.4 billion
people using Facebook each month, Libra could be a financial game
changer, but will face close scrutiny as Facebook continues to reel from
a series of privacy scandals.
It could also be a welcome lift to Facebook’s profits: analysts are
suggesting Libra could be a huge moneymaker for Facebook, arriving as
its growth slows.
This sounds important in the world of the wannabe-dictatorship/rich-getting-richer, but it is beyond my capacity to connect the dots and sweep away the altruistic dross.
With all its identity and security problems, FaceBook wants people to use its cryptocurrency. Just like giving Trump a second term
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