Heard the news? @Facebook
is shaking up crypto with #LibraCoin
. Set to publicly launch in the first half of 2020, it will be built into WhatsApp, Messenger and its own app. There's no sign of integration with Instagram shopping (yet). It will control Libra alongside a wealth of names who have invested at least $10 million each, including Uber, Mastercard and PayPal who will cash in on the interest.
There's low interest from French finance minister Bruno Le Maire, saying “It is out of question” that Libra “become a sovereign currency” in an interview with Europe 1 radio. Facebook has tried to alleviate concerns with a plan to decentralise the currency and the promise of protected privacy: your Facebook data will be seperate from your Libra transactions and won't be used for ad targeting — or so they say. But with a history of mistrust from its users, Facebook has a long way to go until it reaches its goal to be used for everyday transactions. However over on Wall Street, Facebook shares have surged over 2% in premarket trading, adding to 8% gain over the past three sessions in anticipation of its crypto announcement.
Are the stars aligning for Facebook, or are you not buying it?