Facebook's Libra and a cellphone may the key to freeing billions of people from mismanaged 3rd world currencies
Facebook's Libra and a cellphone may the key to freeing billions of people from mismanaged 3rd world currencies.After facing bipartisan opposition to its plans for Libra, many question the ability of Facebook to pull off an international digital currency.: Facebook has been a very profitable position for you over the last 7 years. What do you think about Libra as a shift in their strategy?: I think over time it will become the most important part of Facebook’s business.
Libra as a concept , deals with many of the drawbacks and promotes international trade with transparency.: How do you see Libra being a profitable business for Facebook? Why does it make sense for other companies to partner with Facebook?: Facebook is solving a very specific problem: monetary mismanagement in 3rd world countries.
I like that they are committing to fight money laundering with transfer limit reporting. I like that they are building this with a set of companies, not just on their own -- this creates accountability.
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