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9 Crazy Truths About Facebook's Libra Cryptocurrency

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20.06.2019

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

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, add some other news from the past 24 hours about Facebook's planned offering, and I think there are at least nine reasons why Libra falls into the category of "so crazy, it just might work."

It just might work -- because of Facebook. Facebook has 2.3 billion users around the world, all of whom will face inducements to engage with -- and trust -- Libra. The sheer scale of the potential user base........

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