Facebook’s Libra: it’s not the ‘crypto’ that’s the issue, it’s the organisation behind it

The founding partners of the Libra Association.
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Bill Maurer, University of California, Irvine and Daniel Tischer, University of Bristol

In all the hype that has surrounded its Libra currency, Facebook has been able to distract attention away from an important issue. Libra is being hyped as Facebook’s bitcoin but it’s really a proposal for a global payments system. And that system will be controlled by a small and exclusive club of private firms. Continue reading