4 Reasons Facebook Should Abandon Libra

Earlier this year, Facebook (NASDAQ: FB) assembled a consortium of companies to develop an open-source cryptocurrency called Libra. Facebook doesn't own Libra, but it stated that it would offer Libra as a payment option for its new digital wallet Calibra, then integrate those payments into Messenger and WhatsApp.

Facebook claims that Libra will simplify payment transactions made by roughly 1.7 billion unbanked people worldwide, but critics and regulators argue that the cryptocurrency could be used for money laundering and other illicit purposes. They also believe that Facebook's recent security and privacy debacles made it an unsafe platform for digital payments.

Image source: Facebook.

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Source Fool.com