I'm fairly skeptical of cryptocurrency in general, so you have to understand that I am losing it over Facebook's announcement of Libra, its take on cryptocurrency. Libra is being developed by Facebook, but it'll ultimately be controlled by a number of organizations, including VC firms, tech giants, and credit card companies. One tagline on Libra's website reads: "Reinvent money. Transform the global economy. So people everywhere can live better lives." Those first two are immense and scary goals! And I'm not sure why any consumer should trust massive companies with no accountability to them to do a good job of it. Surely, their goal here is not truly to help us all "live better lives." They want to make money, and controlling a major currency — should Libra find that level of success — would be an immeasurable boon. -Jake |