What makes Facebook's cryptocurrency different?

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  • Published on Jun 18, 2019
  • Facebook formally unveiled its highly-anticipated digital currency project. It's called Libra. Facebook (FB) also announced the creation of the Libra Association, an independent organization that will manage the currency, and Calibra, a unit of Facebook that will build applications related to the new digital currency.
    Facebook has 2.4 billion users around the world, an audience that could help it spur a bigger mainstream adoption of cryptocurrency than others have yet to generate. At the same time, the announcement comes at a critical moment in Facebook's history. The company is under regulatory and political scrutiny for its massive influence, as well as its mishandling of user data, even as it works to further extend its reach into users' lives.
    CNN's Clare Sebastian explains how it will be different than other blockchain cryptocurrencies.
    #Facebook #CryptoCurrency #CNNBusiness

Comments • 28

  • Rob Adams
    Rob Adams 21 day ago

    Wow. Why does Revelation 13:17 come flying into my head now?

  • Atipat12
    Atipat12 5 months ago

    COOL 😎😎😎😎😎😎

  • Shaun Dolphens
    Shaun Dolphens 5 months ago

    Cnn is a f'n joke. Screw your whole network of propaganda puppets. Idgaf about libra or the next coin you try to shill. Btc is king. Will always be king. And you all idiots if you listen to anything this network says.

  • Audio Pervert
    Audio Pervert 5 months ago

    'supplanting' the need to exchange money. the need to spend money... vicious and unstable tech-capitalism. A so called social networking disease is now unfolding its true demonic totalitarian reach... Screw this crypto corporate heist... Boycott Facebook - An Enemy of Open Society.

  • CraigVader
    CraigVader 5 months ago +1

    And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of scales in his hand.
    And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine...
    ~~ Revelations 6:5-6 ~~

    • J Guillory
      J Guillory 5 months ago

      Broke people talk and fear. Bitcoin

  • Muffin
    Muffin 5 months ago +2

    "They're hoping that it will build trust into the system", facebook and trust just don't go together lmao.

  • No offense but
    No offense but 5 months ago

    looks like libra will be the dominant currency in 20-30 yrs from now.. hope im wrong

  • Kyle Mutange
    Kyle Mutange 5 months ago +1

    In Kenya, we already cracked this nut more than a decade ago with M-Pesa. Zuckerberg had to come to our country for lessons. Kenyan's let welcome the rest of the world to how effortlessly we send, receive money, and make payments

  • Minien
    Minien 5 months ago +1

    RAIGHT ON MATE! WHATDUYEW REKON FACEBOOK AND VIZZZA AND SWISSERLAND AND ITS SUBSSDIARIES ARE DOIN’ NOW?

  • Becoming Vincent
    Becoming Vincent 5 months ago

    Zucked coin

  • Leonard Lee
    Leonard Lee 5 months ago +1

    I'm 39 by my estimate I have at least 50 yrs left thank god!

  • Maurice Kenny
    Maurice Kenny 5 months ago

    At the end of the day it is a stablecoin like the others, but the differentiating factor for sure is that it is coming out of a very large company and has numerous powerful companies backing it in partnership. So those 2 points alone make me interested to see if it can or can not push it further than the other current stablecoins out there.
    On my RU-clip ch I actually also teach everyone how to master everything blockchain so if anyone is interested check me out 👌

  • The Modern Investor
    The Modern Investor 5 months ago +2

    Buy Bitcoin.

  • Matt Adam
    Matt Adam 5 months ago

    People are way in the past

  • jamied052
    jamied052 5 months ago +3

    Hey no coiners welcome to crypto 👍🏻

  • Donovan
    Donovan 5 months ago +6

    Oh? A centralized global digital currency that can be linked to a global social credit score, that’s managed by the largest corporations in the world, and that’s backed up by fiat currency, all while we are heading towards a borderless society? Sounds like 1984 to me! What could possibly go wrong?
    **CyberPunk, Blade Runner, Ready Player One have all entered the chat** 😃

  • Metkel Beiene
    Metkel Beiene 5 months ago

    Wow... this is going to completely revolutionize global trade. Privatized currency might stop political agendas from affecting global markets and growth. And it won't be speculative but backed by safe assets? absolutely brilliant. I wonder how national treasuries feel about this?

    • ahlads
      ahlads 5 months ago +1

      Privatised currency owned by large corporates. If that doesn’t scare you nothing will.

  • Traditionalist
    Traditionalist 5 months ago

    the zionists want to destroy traditional currency and bring in crypto so they rule even more so over us gentiles

  • Free & Independent
    Free & Independent 5 months ago +4

    You cant trust Facebook

  • first name last name
    first name last name 5 months ago +22

    They should've called it Zucccoin

  • derty QWERTY
    derty QWERTY 5 months ago +2

    Yet another wannabe coin. Just use bitcoin and litecoin. Also, a much smarter tech company, IBM, has lots servers already global for their coin, and asian banks have been using it more than 2 years now, because its faster to transfer than paper in pacific islands, especially. Get real, fecesbook is a joke and so is anyone that believes in this wannabe altcoin aka sh-tcoin.

  • William Schutter
    William Schutter 5 months ago +2

    Oh yeah. When the Unconstitutional monopoly called Face Book is creating currency, which is a technical Fascist/Socialist entity, there is nothing to see here. No implicit servitude. No potential for abuse. No accountability to a legally accountable entity either. I love this idea. We just put the thieves and bandits and info-pirates (my term, give me credit) in charge of the money printing. What could go wrong with that? No wonder the Federal Reserve and all mega-Western banks tried to destroy bitcoin for 2 years.

  • Green Forex Academy
    Green Forex Academy 5 months ago +1

    Wow ....Facebook unveils digital currency called LIBRA

  • Green Forex Academy
    Green Forex Academy 5 months ago

    Wow ....Facebook unveils digital currency called LIBRA