Facebook libra can be dangerous for everybody

Facebook Libra is not for Europe

Ladies and gentlemen, the world will have a new facebook cryptocurrency. Yeah, a tech behemoth has kept pace with trends and it’s expected to be available to early 2020. Facebook Libra should be built into existing applications, including WhatsApp and Messenger. In all likelihood, Europe is not ready for that. Especially, the French Financial Minister said that European soil couldn’t authorize the development of Libra.

Are you for or against a new cryptocurrency?

All views about facebook libra were shared almost universally. Different countries, politicians, and regulators across the globe have already disscussed a scary demon – Libra. It’s all because of data confidentiality scandals in previous years. Therefore, French Finance Minister Bruno Le Maire stood up to facebook crypto at the Global Blockchain Policy Forum.  He cautioned against the “possible privatization of money”. In his opinion, Facebook is a “single actor that has more than two billion users on the planet.”

It seems Facebook knows everything about us

Zuckerberg created a new facebook crypto

That’s true. The leading social network is now visited more than 40 % of daily internet users. A more complex question is, why do we consent to all this data mining on Facebook? Logically, the power of libra cryptocurrency may affect us all. Anyway, all innovation is always a risk. But Europe is not willing to risk. That is why Libra blockchain technologycannot be permitted in its present form.  Translated by the Financial Time, Minister added:

“Any failure in the functioning of this currency, in the management of its reserves could create considerable financial disorders.”

In Bruno’s opinion, Libra coin could potentially be used for money laundering. But big chances are never small stakes, aren’t they?  The new crypto is about to begin a new stage in the history of digital currency.

Is Libra cryptocurrency that dangerous?

Let’s figure it out together. The cryptocurrency ecosystem would not be under the total control of Facebook. We can play an open hand. In reality, a new cryptocurrency should be regulated by the Libra Association.  Moreover, founding members of Libra included Visa, Mastercard, Paypal, Spotify, and Coinbase. The libra blockchain will take place in an e-wallet called Calibra.  But Zuckenber is still working on the establishment of a new cryptocurrency. We are not sure about the national level, but Syndicate casino embraces all the advantages of crypto.

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