Some Experts Say Facebook’s Launch of Libra Cryptocurrency is Company’s ‘Most Invasive and Dangerous Form of Surveillance Yet’ — BCNN1 – Black Christian News Network

Facebook is launching cryptocurrency next year that will allow people to move money from their smartphone into a digital “wallet”.

The currency is known as Libra, which the social network says it has “no special role” in governing and will manage equally with a group of big companies.

Experts have branded the move a dangerous power grab that marks Facebook’s “most invasive” form of surveillance yet.

So far, Facebook has enlisted 28 firms, including Spotify and Uber, who each had to invest a minimum of £8million to be a founding member of the Libra Association, an independent not-for-profit membership organisation.

It wants to attract 100 businesses in time for launch, which it is aiming for the first half of 2020.

Libra is supported by a reserve of the world’s best assets and the world’s most trusted central banks, who gave the cryptocurrency “general cautious support”, according to David Marcus, who started exploring blockchain at Facebook a year ago.

SOURCE: The Sun

via Some Experts Say Facebook’s Launch of Libra Cryptocurrency is Company’s ‘Most Invasive and Dangerous Form of Surveillance Yet’ — BCNN1 – Black Christian News Network

1 thought on “Some Experts Say Facebook’s Launch of Libra Cryptocurrency is Company’s ‘Most Invasive and Dangerous Form of Surveillance Yet’ — BCNN1 – Black Christian News Network

  1. Pingback: Some Experts Say Facebook’s Launch of Libra Cryptocurrency is Company’s ‘Most Invasive and Dangerous Form of Surveillance Yet’ — BCNN1 – Black Christian News Network — Truth2Freedom’s Blog – New Human New Earth Communities

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