Browsing: Libra

Facebook, the largest social network in the world, stunned the world earlier this year with the announcement of its own cryptocurrency, Libra. The launch has raised questions about the difference between Libra and existing cryptocurrencies, as well as the implications of private companies competing with sovereign countries in issuing currencies.

During hearings into Facebook’s new Libra cryptocurrency, she grilled David Marcus, the head of its Calibra wallet, which is how its users will interact with Libra. “So, we are discussing a currency controlled by an undemocratically selected coalition of largely massive corporations. Do you believe currency is a public good?”