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So much to lose with Facebook’s 'Zuckerbucks'

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In David Eggers’s book, The Circle, the villain is an internet firm with global ambitions. it wants to be the most influential company in the world, with a stake in everything from healthcare and privacy to electronic voting. Just imagine the impact on US politics, for example, if voters could vote from their smartphones.

Critics have called The Circle both a brilliant satire as well as an Orwellian warning about the potential unchecked power of the internet. No doubt Eggers’s company would have gotten around to the idea of creating its own electronic currency.

Mark Zuckerberg's Facebook plans to launch Libra, a crytpocurrency, as soon as next year.Credit:AP

Instead, Facebook has the........

© The Age