With Virtual Money, Facebook Bets on Disrupting the World, Again

Phys.org cites CEI’s Senior Fellow on Facebook’s new cryptocurrency.

“If successful, Libra could have benefits for consumers and  in reducing the transaction costs of electronic payments, but the success of Libra is not guaranteed,” said John Belau, a senior fellow at the Competitive Enterprise Institute, a nonprofit policy group in Washington.

“Like other cryptocurrencies, it will face many challenges of which the most important is establishing trust in a community of users.”

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