Home Videos Facebook's Libra cryptocurrency: Opportunity or threat? | DW News

Facebook's Libra cryptocurrency: Opportunity or threat? | DW News

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Can we trust Facebook when it comes to money? Since the social network announced plans to introduce the new digital currency Libra, a number of financial leaders around the world have sounded the alarm. Like Bitcoin, Libra would enable computer payments via block chain technology. But to make Libra less volatile than Bitcoin, Facebook plans to back it with a basket of real-world currencies like the US dollar, the euro and the Japanese Yen. What also sets Libra apart from Bitcoin is that it would be backed by big companies, including Visa, Uber, MasterCard, and PayPal. Facebook says that more than two dozen partners will help fund, build and govern the Libra system. Facebook hopes to raise as much as 1 billion US Dollars from existing and future partners to support the cryptocurrency effort. Libra is set to launch in 2020, but first, Facebook has to convince regulators. US lawmakers have grilled Facebook over its plans on the currency. Members of the Senate Banking Committee raised doubts that the tech company was ready to introduce its own money, based on past missteps over privacy and data breaches.
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#Libra #Cryptocurrency

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35 Comments

  1. mimi yun

    August 8, 2019 at 3:11 am

    The people who's considering buy and pay their money for Libra, deserve the scam .

    Reply

  2. Junior Jr

    August 10, 2019 at 11:44 am

    Bitcoin will save us

    Reply

  3. stachowi

    August 10, 2019 at 8:52 pm

    Wow… you think FB needs to ask for permission… they don't.

    It's just easier for them to take over if the regulators say OK (which I'm sure they can get paid off to do).

    Once Libra is "too big to fail" they'll unpeg it from the other currencies and rule the world.

    Reply

  4. Almond Trees

    August 12, 2019 at 6:38 am

    I still don't trust facebook!

    Reply

  5. BLOCKCHAIN REVOLUTION HIVE

    August 12, 2019 at 6:42 am

    Why is this new thing to the west this is witch hunts have you not hear 👂 of Alipay Chinese payment with alibaba company 🤔please give us a break

    Reply

  6. jeeevan gurung

    August 12, 2019 at 11:51 am

    Digital currency are good but world's all countrie's goverment wouldnot give authority.without any governet's authority it has no value.

    Reply

  7. sunfun

    August 12, 2019 at 3:11 pm

    libra a vision of the future. even the feds now want their own currency

    Reply

  8. Sam Hui

    August 13, 2019 at 5:24 pm

    Libra should be good in market, but that’s bad news for banks

    Reply

  9. Robert Campbell

    August 14, 2019 at 12:52 am

    Libra is NOT a Crypto Currency. A Board of Directors oversees the currency. The seats on the Board are limited to those who can buy a seat for 100 Billion Dollars. They have control over transactions. They can block transactions. It is supposedly backed by Fiat Currencies. Therefore it is NOT a Crypto Currency. It can be manipulated!

    Reply

  10. peter ponce de leon

    August 15, 2019 at 2:23 pm

    America is afraid of the Dollar loosing more credibility.

    Reply

  11. Rakiza

    August 15, 2019 at 9:09 pm

    I have posted my views on the potential dangers of FB plans and how they will intrude in everything we do online and offline. Please let me know what do you think . https://www.youtube.com/watch?v=Dm7YneuH2Qk&t=128s

    Reply

  12. v1337

    August 22, 2019 at 5:00 am

    1:23 ah yes, because criminals don’t know about dollars

    Reply

  13. Nate Mantell

    August 25, 2019 at 10:30 am

    I like how Libra has the potential to diminish the power of national governments, that's a bonus, of course governments don't want them cutting into their game. We already have decentralized cryptocurrencies though, much safer solution, only a matter of time before tech is built on top of existing cryptos to offer more robust financial services to the developing world. Facebook starting that off is probably ok imo, a lot of people are going to get hurt either way. After ppl will get screwed by facebook then they will put in effort to learn about how money actually works and start using decentralized cryptos.
    Dude says "facebook could print money out of thin air", just like the U.S. Federal Reserve Bank..

    Reply

  14. Ashley Hughes

    August 26, 2019 at 5:22 am

    Don't think so hahaha hahaha

    Reply

  15. Ashley Hughes

    August 26, 2019 at 5:22 am

    Your government

    Reply

  16. Samantha Herrera

    August 29, 2019 at 1:13 pm

    All currency is an illusion, real wealth is in resources (hand labor, intelligence, ingenuity… minerals, oil, etc.) housing, water and energy should be a human right not a luxury

    Reply

  17. 3 Subscriber's Without Any Videos!!!

    August 31, 2019 at 12:00 am

    This is good for facebook now when S envitably HTF they can blame the regulators and tell the public to blame the regulators

    Reply

  18. 3 Subscriber's Without Any Videos!!!

    August 31, 2019 at 12:07 am

    7:05 the people in the news station are worried in they go against FB to hard that Facebook will just acquire their news station and put them out of work.

    Reply

  19. 3 Subscriber's Without Any Videos!!!

    August 31, 2019 at 12:11 am

    The US Government is about to give all its power to its corporate masters.. I really hope Facebooks Calibra isnt going to be said to be the worlds "New" reserve currency.. there will be wars breaking out strong arming and forcing countries that said No Thanks to change their answer to Yes Master.

    Reply

  20. Michael T.

    September 3, 2019 at 10:26 pm

    Isn't the us fed bank a private corporation?

    Reply

  21. E Wa

    September 4, 2019 at 10:49 am

  22. Gnome Chompsky

    September 17, 2019 at 10:03 am

    Well isn't the Fed a private institution that controls global money supplies?

    Reply

  23. Arumemi s

    September 26, 2019 at 2:11 pm

    vastrangelinks, com is the only site i can trust for my weekly earn they just got me $11k in bitcoins

    Reply

  24. John

    October 2, 2019 at 5:39 pm

    Well, since Paypal is involved in Libra and Paypal Banned me for life (No idea why) I guess I am banned from Libra too LOL

    I can't get banned from cash and I can't get banned from crypto but I don't think Libre with Paypal involved will take long to start banning people and then never tell you why. Could you imagine getting shut out of a payment system like that? I can not use Ebay anymore (No Paypal).

    Reply

  25. rural lyfstyl

    October 6, 2019 at 12:58 pm

    Are the central banks owned by their own governments?

    Reply

  26. Charles Lee, Jr

    October 8, 2019 at 12:12 pm

    The Rule of Law Has A Child Molesting Lust For Money…

    Reply

  27. Georg Wilde

    October 27, 2019 at 11:02 am

    Ok. You made the choice not not use it and not invest to it. Now let me make the decision for myself. You have absolutelly no right to decide that for others. Just don't use it and leave others alone.

    Reply

  28. Carlos Zapata

    October 27, 2019 at 7:35 pm

    How is that going to work where you have a bunch of kids on that social media

    Reply

  29. Carlos Zapata

    October 27, 2019 at 7:49 pm

    I bet half of the users in facebook are under 21…so that means alot of people are going to get bamboozle out of their money…especially people that dont have social skill in reality which will more likely be the victims….what is this world coming to?

    Reply

  30. Carlos Zapata

    October 27, 2019 at 7:50 pm

    Zuckergerg already has alot of money and now hes trying to use the media which is the people to make an extra buck…how is that gunna play out for you guys???

    Reply

  31. MallorcaBlockchain

    October 28, 2019 at 5:51 pm

    Can we trust fiat money that is printed out of thin air ? Why not have several currencies as libra, bitcoin, ethereum that are competing with each other.

    Reply

  32. Craig Lento

    November 4, 2019 at 12:50 pm

    The cryptocurrency community doesn't need Facebook. We already get enough trouble about criminals using it.

    Reply

  33. cekcek rokrok

    November 10, 2019 at 7:52 am

    'used by ciminals'

    That's the dumbest thing I've ever heard

    Reply

  34. perry lc

    November 17, 2019 at 2:33 am

    Facebook is only the "face" of Libra. They are one of the 28 founders which can go as high as 100 founders. Research Concordia for more info on Libra".

    Reply

  35. King Worldwide

    December 17, 2019 at 5:59 am

    Some individuals still live in the era of horses and wagons while the new generation drive electric vehicles.

    Reply

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