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9 Crazy Truths About Facebook's Big New Announcement

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19.06.2019

Facebook announced a big plan Tuesday: it's launching a cryptocurrency called Libra. The idea has been hinted at for some time, and it reportedly has its origins in a brainstorm on a beach in the Dominican Republic.

Here's Facebook's summary in two sentences:

"Libra is a global, digitally native, reserve-backed cryptocurrency built on the foundation of blockchain technology. People will be able to send, receive, spend, and secure their money, enabling a more inclusive global financial system."

Unpack that, and combine it with the other news that rolled out in the last 24 hours about Facebook's planned offering, and I think there are at least 10 reasons why this whole thing falls into the category of "just so crazy, it might work."

Facebook has 2.3 billion users around the world, all of whom will ultimately face inducements to engage with -- and trust -- Libra. That means that almost whatever........

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