Facebook May Become World’s Largest Central Bank

Facebook’s Libra and bitcoin are fundamentally different, and with the launching of its new cryptocurrency, the social media giant could position itself as a “bank” to billions of its users around the world, said Kiana Danial, CEO of Invest Diva and author of Cryptocurrency Investing For Dummies.
“Facebook’s Libra has the reach, has all the data in the world, but what it is trying to create is something that, to me, is actually scary because it is trying to create a monopoly,” Danial told Kitco News. “Facebook is going to become a central bank with a third of the population of the world.” (show less)

Facebook’s Libra and bitcoin are fundamentally different, and with the launching of its new cryptocurrency, the social media giant could position itself as a “bank” to billions of its users around the world, said Kiana Danial, CEO of Invest Diva and author of Cryptocurrency Investing For Dummies.
“Facebook’s Libra has the reach, has all the data in the world, but what it is trying to create is something that, to me, is actually scary because it is trying to ... (read more)

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