Libra Moves Fast And Breaks Too Many Things16

Libra's introduction was a short run win for Facebook (FB). But as time goes on, Facebook will face much sterner tests to its currency. Libra is never going to be just another payments alternative. It has the potential to replace the Dollar as the globe's standard of value. This is both an opportunity and a threat to Facebook in the longer run.

Here is another in a probably infinite series of articles explaining what’s wrong with Libra, Facebook's proposed currency. Libra’s plans are outlined here. The core thing that’s wrong with Libra – it promises the moon then leaves all its problems for the rest of the world to solve. This is Facebook's way of getting the rest of us to do its technical development work for it. To date, Facebook has been a poor steward of its new opportunity.

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