Facebook already rules daily communication for more than two billion people around the world. Now it wants its own currency, too.
Creating its own globe-spanning currency — one that could conceivably threaten banks, national currencies and the privacy of users — isn't likely to dampen regulators' interest in Facebook. "If you fast forward a number of years, consumers all over the world will have the ability to access the world economy," Facebook executive David Marcus said in an interview with The Associated Press.
Libra will be different, Facebook says, in part because its value will be pegged to a basket of established currencies such as the U.S. dollar, the euro, the yen and others. Each purchase of Libra will be backed by a reserve fund of equal value held in real-world currencies to stabilize Libra's value.
Calibra won't require users to have a Facebook account to make a free wallet. And it will allow people to send Libra back and forth on two of Facebook's core messaging apps — WhatsApp and Messenger. Instagram messages won't be included, at least at first.
Oh, this is gonna be good...
OH! Boy? Here we go, Now facebook is going to do what? 'Create digital currency?' Hello? I Thought only the government could do such things? ' I wouldn't Trust facebook as far as I could throw it!' There up to something? As the poor and the middle class wouldn't have access to t
How much worse does Facebook have to get before they start hemorrhaging users? The addiction to that privacy robbing platform is amazing.
instead of mining for bitcoin, do you tend to your farm in farmville?
Facebook who censors people now wants to control your money. If you dont behave they will freeze your finances.
Just no. Why are they allowed to do this?
Pass.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: politico - 🏆 381. / 59 Read more »