Facebook is struggling to maintain its cryptocurrency

Jamie McKane

MyBroadband Journalist
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Facebook is struggling to maintain its cryptocurrency

Mark Zuckerberg’s cryptocurrency project, Libra, has become the regulatory equivalent of a pinata: Everyone is lining up to hit it with a stick. France’s finance minister Bruno Le Maire calls it an assault on sovereignty and a risk to financial stability, an attack backed up by his German counterpart Olaf Scholz who dubbed it a “parallel currency.” You can see their point.

Across the Atlantic, U.S. Democrats and Republicans — including President Donald Trump — have called for tough scrutiny of the Facebook Inc. payments system, whose potential 2-billion strong user base could threaten the U.S. dollar’s supremacy.

[Bloomberg]
 

Moto Guzzi

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If crypto currency (The new wonder of the world) cannot provide a specified trace of the smallest amount of money units added to amonunts tranfered from originating to final account resting place and layout a path of travel through all banking points to fight high level corruption, its not any better than the current system.
 
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