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Facebook’s Libra Must Be Stopped

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20.06.2019

NEW YORK – Facebook has just unveiled its latest bid for world domination: Libra, a cryptocurrency designed to function as private money anywhere on the planet. In preparing the venture, Facebook CEO Mark Zuckerberg has been in negotiations with central banks, regulators, and 27 partner companies, each of which will contribute at least $10 million. For fear of raising safety concerns, Facebook has avoided working directly with any commercial banks.

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    Zuckerberg seems to understand that technological innovation alone will not ensure Libra’s success. He also needs a commitment from........

    © Project Syndicate