Concerns Raised About Facebook’s Digital Currency Libra

[Prateek_sharma]

CEO of Facebook, Mark Zuckerberg has proposed to launch Libra in 2020. As a means of money transfer among facebook & WhatsApp users at an extremely low cost or even without costs at all. Initially, it looks like a very good idea, as there will be no boundaries and no paperwork need to transfer money all around the globe though certain concerns were raised regarding security and privacy issues.

Take a look here: https://coinpedia.org/news/facebooks-digital-currency-libra/

[Sacramentus]

As much as I can remember, the concerns you just listed circling the facebook cryptocurrency project is not a new one however you should be updated on the latest information about Libra where the CEO had met with the Congress notifying them on the fast move of the China government in developing it's own cryptocurrency while the US is left behind with regulatory issues

[crazy-pilot]

Mark and his project are currently in big trouble with Congress.  I think this is the end for Libra, but no one knows what might happen.

[tenakha]

CEO of Facebook, Mark Zuckerberg has proposed to launch Libra in 2020. As a means of money transfer among facebook & WhatsApp users at an extremely low cost or even without costs at all. Initially, it looks like a very good idea, as there will be no boundaries and no paperwork need to transfer money all around the globe though certain concerns were raised regarding security and privacy issues.

Take a look here: https://coinpedia.org/news/facebooks-digital-currency-libra/

You can find hundreds of projects in the decentralized world for secure money transfers. Why would Libra be superior? Because of Zuckerberg, right? I think if you are looking for coins to send no charge, look at Nano.

[Patatas]

You'd have to be an idiot if you ever think SuckerBerg will let you use his crypto without stealing your data, identity and other personal information. Why would one even consider using any other crypto over BTC or ETH for practical reasons?

Congress knows his plan already and they're sure he will introduce more scammers and identity thieves in the market. I hope such crap never gets introduced in the crypto market.

[asriloni]

Mark and his project are currently in big trouble with Congress.  I think this is the end for Libra, but no one knows what might happen.

It has got another delay and it's clear from the news that already mentioned by OP if zuckerberg proposed to launch libra in the next year and why? it caused by the libra must have finished its problem with the regulator. it's not the end for libra. If that can't be launched in US and libra has another place that opened its gate for libra to launch its stable coin as a payment system between all of the platforms under facebook companies.


FINMA is the one who has already opened the gate for libra to launch its stable coin. 

[ecnalubma]

If they can't have agreement with different governments then probably Libra will be restricted in few big countries such as US, Australia and the UK. Then definitely it will be a big loss of the project, the question now is when this government pressure will end and how many countries will add to oppose in the future before their launch?

[NathanJB]

CEO of Facebook, Mark Zuckerberg has proposed to launch Libra in 2020. As a means of money transfer among facebook & WhatsApp users at an extremely low cost or even without costs at all. Initially, it looks like a very good idea, as there will be no boundaries and no paperwork need to transfer money all around the globe though certain concerns were raised regarding security and privacy issues.

Take a look here: https://coinpedia.org/news/facebooks-digital-currency-libra/

This is an old concern. This is probably one of the oldest concern raised as soon as the plan of Facebook to launch their own currency was reaching the people. And this is without any foundation. This is directly caused by the track record of Facebook in terms of keeping valuable and even very private information in their social media site. Security and privacy issues are where Facebook is low.

[jazmuzika217]

I think this is a great idea and it is a big factor to help other people all over the world. But I think it is risky and it is hard to give our full trust on libra because of so many issue that libra that already faces. From the date of release and launched of project there is always a changes so it is hard to assumed a good service.

[matchi2011]

I think this is a great idea and it is a big factor to help other people all over the world. But I think it is risky and it is hard to give our full trust on libra because of so many issue that libra that already faces. From the date of release and launched of project there is always a changes so it is hard to assumed a good service.

The changing of release is due to many struggles to past from the congress as till date the project still have a lots of issue to resolve before they
can provide the time frame of their actual launch. Libra project still have many things to explain and convinced the congress of its actual functions
to financial institutions. Without clearance from the congress this project will not be able to completely launch.

[jossiel]

Mark and his project are currently in big trouble with Congress.  I think this is the end for Libra, but no one knows what might happen.

That could be the sign but there are some other companies that are still sticking to them and with their plan. I don't think that this will ever be big even after the launching. It could all be alive through hype because of its name.

Other than that, it will be the same as other stable coins.

[dcomomal]

It seems like everything is getting postponed to 2020, firstly TON got problems, secondly Libra is acting the same. Luckily 2019 gave us Bakkt exchange, but this is it literally, so nothing big is planned for 2019 anymore. Anyways, I hope that Zuckerberg will defeat all regulation problems and we would see Libra live asap.