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Western Union stock tanks after Facebook unveils Libra cryptocurrency

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This morning, Facebook finally went public with its big blockchain plans. Its new project, called Libra, is absolutely ambitious and, like all things Facebook, has the distinct possibility of taking a dark turn. But never mind all that because cryptocurrency enthusiasts are likely thrilled; one of the most powerful tech companies in the world is partnering with dozens (potentially hundreds) of other business titans to create a digital currency built atop the blockchain.

Libra positions itself as doing what bitcoin said it was always supposed to do. It’s a borderless financial system intended to let anyone (with a government ID)........

© Fast Company