Facebook’s planned new currency may be based on a blockchain
But it will be more Bitcoin 0.5 than Bitcoin 2.0
THE EXCITEMENT among crypto-buffs is palpable. Facebook, the world’s largest social network, appears to be planning to launch a digital coin early next year. But they should not get their hopes up too high. If the firm does indeed launch what is being dubbed FB Coin, GlobalCoin or Libra, it will be a tame sort of cryptocurrency—more Bitcoin 0.5 than 2.0.
This article appeared in the Finance & economics section of the print edition under the headline “FaceCoin”
Finance & economics June 1st 2019
- Have regulators created a new type of financial monster?
- Will the trade war spell the end of Chinese stock listings in America?
- Jokowi wants to improve the quality of Indonesia’s labour force
- Facebook’s planned new currency may be based on a blockchain
- Bank supervision in America is unfit for the digital age
- China cannot easily weaponise its holdings of American government debt
From the June 1st 2019 edition
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