Facebook: More Folly From Facebook, Launching Libra In 2020

As is well documented over the last few months and announced this week, Facebook (FB) is launching its own cryptocurrency. There is a good chance this will be an excellent move for Facebook but management needs to rebuild user trust. If they manage to rebuild trust, I think this will be a great addition to their offerings and diversify away from ads as the only revenue source. The basic information about Libra, as well as the whitepaper, can be found on the website for Libra. I would highly recommend reading it – it’s both short and short on detail. Calibra will be the Facebook subsidiary that will handle payments within the Facebook group and will have independent management from Facebook itself as promised in the FAQ on the Calibra website.

Source: Libra

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