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Facebook claims Libra offers economic empowerment to billions – an economist is skeptical

Jay L. Zagorsky – Senior lecturer, Boston University
Facebook claims Libra offers economic empowerment to billions – an economist is skeptical

Facebook is joining the cryptocurrency craze. The social network site on June 18 said it’s launching a new cryptocurrency called Libra with the help of 27 partners, including MasterCard, Visa, ebay and Uber. In simple terms, Libra is meant to replace the paper bills in your wallet or purse with a digital equivalent.