There has been no shortage of opining over Facebook’s foray into crypto this week. Most industry heavyweights are in agreement that Libra is about as far from bitcoin as the greenback is, but the new digital offering will have an impact on the crypto scene, and it may not be that bad.
So What Do *You* Think About Libra?
Everyone from grandmothers to William Shatner has commented on Libra since Zuckerberg et al released the details earlier this week. Crypto markets did not even blip but there could be wider implications as the world’s largest social media network attempts to take on the planet’s biggest banks.
Facebook has in excess of 2 billion users so it stands to reason that a digital payments system on the platform will increase awareness of crypto currencies for millions that previously considered them deep in the realms of geekdom.
Once people realize that they can send payments instantly and for virtually no cost, bypassing banks and expensive foreign exchange intermediaries, the light may suddenly go on. Bitcoin…