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The Trouble Starts If Facebook’s New Currency Succeeds

Eric Posner
The Trouble Starts If Facebook’s New Currency Succeeds

Facebook, one of the world’s most distrusted companies, wants us to trust its new Libra cryptocurrency, which, it hopes, will be used by billions of people around the world. Libra will almost exactly replicate all the problems generated by Facebook’s social network. The key insight underlying Libra is that the transfer of money from person to person is similar to the transfer of information.