Tuesday, June 18, 2019

Facebook's cryptocurrency

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.

1 comment:

  1. With all its identity and security problems, FaceBook wants people to use its cryptocurrency. Just like giving Trump a second term