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Libra: Why Facebook's billion dollar bet on its own digital currency will pay off

Libra
Libra’s value will not fluctuate dramatically like Bitcoin’s, nor will it be pegged to the dollar. Instead, its value will be based on a basket of currencies, backed up by real assets

At the start of 2018, Mark Zuckerberg first signalled his interest in cryptocurrencies, digital coins that were designed as money for the internet age.

“There are important counter-trends to [the growing power of big tech companies] - like encryption and cryptocurrency - that take power from centralised systems and put it back into people's hands,” Facebook’s chief executive wrote. 

The launch of Libra, the result of a special blockchain project at Facebook that began a year ago, aims to deliver on that promise. 

The cryptocurrency has been spearheaded by Facebook, and the underlying technology developed by it, and although the social network is positioning itself as just one of the many companies...

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