Wednesday
July 3
2019

What Facebucks Can Do for the Global Poor

By Annie Lowrey

This month, Facebook announced it was making an investment in crypto. More specifically, the company and its partners issued a long-anticipated white paperunveiling a new digital currency, a management mechanism for it, and a platform for its development. It is called Libra, a kind of half pun: The name refers to an ancient unit of measure, as well as sounding like the French and Spanish word for “free.”

Source: The Atlantic (link opens in a new window)

Categories
Finance, Technology
Tags
cryptocurrency, financial inclusion, financial innovation, financial services, poverty alleviation, unbanked