Facebook has promised us a new “global currency” with the goal of bringing financial services to billions of people for the first time. The currency, Libra, has support from a variety of other tech firms and partners such as Lyft, Spotify, and Stripe.
But beyond the initial hype, Libra has some crucial flaws that may disrupt or even halt its adoption.
To start, the Libra whitepaper cites that there are 1.7 billion adults who are still unbanked. And according to the same World Bank document it pulls from, nearly half of those adults live in seven developing countries: Bangladesh, China, India, Indonesia, Mexico, Nigeria, and Pakistan.
Many of these countries sound perfect for adoption but it
Article source: https://www.geekwire.com/2019/crucial-flaws-may-prevent-facebooks-libra-living-cryptocurrency-ambitions/
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