An Analysis of Facebook’s Cryptocurrency Libra and What it Means for Our World

After months of speculation, Facebook has revealed its Libra blockchain and the Libra coin towards the world. The highly-anticipated cryptocurrency ran into immediate opposition in Europe plus the Usa. The particular French Finance Minister Bruno Le Maire said it was “out of question” that Libra might “become a sovereign currency”. Meanwhile, Markus Ferber, a German person in the European Parliament, said that will Libra has got the potential to become the “shadow bank” and that regulators should be on high alert. In addition, both Democrats plus Republicans raised their concerns with Representative Patrick McHenry, the senior Republican around the House Financial Services Committee, calling with regard to a hearing upon the initiative.



It was to become expected that when the social media giant, that has seen numerous scandals in 2018, would certainly launch a cryptocurrency, there would be opposition. Lots of people, organisations and governments no longer trust Facebook with the social media data, let alone with their own financial data. The main concerns from regulators and lawmakers around the world are that Facebook is already too massive and careless with users' privacy to launch an effort like Libra.



However, before we judge as well quickly, let's first dive in to the Libra blockchain as well as the Libra coin to comprehend it...


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After months of speculation, Facebook has revealed its Libra blockchain and the Libra coin to the world. The highly-anticipated cryptocurrency ran into immediate opposition in Europe and the United States. The French Finance Minister Bruno Le Maire said it was “out associated with question” that Libra would “become a sovereign currency”. Meanwhile, Markus Ferber, the German member of the European Parliament, said that Libra has the potential to become a “shadow bank” and that regulators should be on high alert. In addition, both Democrats and Republicans raised their concerns with Representative Patrick McHenry, the senior Republican on the House Financial Services Committee, calling for a hearing on the initiative.

It was to be expected that when the particular social media giant, who has seen numerous scandals in 2018, would launch a cryptocurrency, there would be opposition. Many people, organisations and governments no longer trust Facebook with the social media data, let alone along with their financial information. The main concerns from regulators and lawmakers around the particular world are that Facebook is already too massive and careless with users’ privacy to launch an initiative like Libra.

However, before we judge too quickly, let’s first dive into the Libra blockchain as well as the Libra coin to understand it…

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Scottie Todd

Digital Marketing Lead

“Level 4 marketing wizard on a quest for
data insights one blog post at a time.”

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