China Feels the Facebook (Libra) Threat notwithstanding the Digital Wall

You cannot overstate the excitement and furor surrounding the proposed Facebook cryptocurrency, Libra. Indeed, this is different because of the sheer size of Facebook’s customer base and its marketing reach.  The Libra whitepaper has just recently debuted but projections are already pretty high.

Bitcoin has done immensely well to get to where it is today, regardless of all the volatility along the way. That said, Bitcoin has not been able to even remotely pose a threat to the financial system as it is. Part of that is because of its scarce nature and also lack of regulatory and mainstream recognition. There is change, but the progress is slow.

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