All you need to know about Facebook's new cryptocurrency Read moreThe new currency, Libra, will be managed by an independent foundation via an encrypted blockchain ledger.But unlike bitcoin, nothing about Libra indicates a dream or desire to displace the role of states or state currencies in our lives. For refugees around the world, WhatsApp is a lifeline. And unlike the encrypted messages people send through WhatsApp, Libra transactions would not be secret. There is only one other service in the world that threatens Facebook’s global domination. Not too long from now we could face a global financial and communication ecosystem dominated by two or maybe three firms.

Source: The Guardian June 18, 2019 09:00 UTC