In regards to Facebook launching a new cryptocurrency called Libra Why do you think more than a...

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Finance

In regards to Facebook launching a new cryptocurrency calledLibra
Why do you think more than a dozen companies including VisaInc., Mastercard Inc., PayPal Holdings Inc. and Uber TechnologiesInc. have signed up to back the new cryptocurrency, and what arethe benefits and downsides of pegging the cryptocurrency to abasket of government issued currencies?

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Feature of libra Libra is being touted as a cryptocurrency so its natural to use existing cryptocurrencies like Bitcoin and Ethereum as mental models for what it could be But its probably better to think instead about traditional peertopeer payment networks Whether youre talking about PayPal Venmo Square WeChat or even Western Union all of these networks are in some way layered on top of the traditional financial system in order to ease some type of transaction ecommerce checksplitting remittances The See Answer

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In regards to Facebook launching a new cryptocurrency calledLibraWhy do you think more than a dozen companies including VisaInc., Mastercard Inc., PayPal Holdings Inc. and Uber TechnologiesInc. have signed up to back the new cryptocurrency, and what arethe benefits and downsides of pegging the cryptocurrency to abasket of government issued currencies?