With 'Libra,' Facebook takes on world of cryptocurrency

Given that Facebook can't protect user data, why would anyone expect the security and privacy required for financial transactions?

Only a fool would allow this company to handle their financial affairs.

I won't post photos or messages to facebook, so why would I trust them with financial transactions?

OTOH, if they provide real competition to the credit/debit card cabal, and get the 3.5%-5% tax on everything reduced to less than 1%, fantastic. We will all benefit without having to deal with FB.

I bet India isn't happy about this. Didn't they block Paypal because the transactions were going through the govt and govts want the "take"?

They're trying to move cryptocurrency from the realm of techies and speculators to regular investors who are too skeptical of the volatility

Project members the likes of Mastercard and Visa are supposed to act as a buffer between Libra against Facebook controlling the cryptocurrency

Who knows if it'll take off

Just what we need another tool for scammers.

Can't see how this would flop like the other crypto ventures, though I see this as more of a Facebook goes into competition with Visa / MasterCard / financial institutions in general than anything else.

Facebook goes into competition with Visa / MasterCard / financial institutions

Visa and MasterCard are part of this cryptocurrency too

"Libra Association debuted with 28 members including Mastercard, Visa"

Visa and MasterCard are part of this crypto....

And yet it's still pretty clear how visa and MasterCard are competitors