By now you’ve probably heard about Libra,
The global digital currency that Facebook recently announced plans to develop. This past summer, the internet went ablaze trying to explain what Libra “really” is. A true cryptocurrency? (Depends on which nerd you ask.) A potential threat to the global financial system? (Jerome H. Powell, chair of the U.S. Federal Reserve, thinks so.) An innocent attempt to bring innovative fintech options to developing nations where banks are ripping people off . . . so can everybody please just chill? (That’s Facebook’s own take, paraphrased from a slightly exasperated-sounding July blog post by David Marcus, the Facebook executive spearheading Libra.)
Libra might be all of these things, or none. We won’t know until 2020, when Facebook plans to launch it, if it launches it at all—House Financial Services Committee chair Maxine Waters, Democratic senator Sherrod Brown, Treasury Secretary Steven Mnuchin, and even President Trump all seem keen to kill Libra in its crib. But it’s important to grasp the goal of the project, if only because it reflects a dramatic escalation in ambition for a company that already claims one-third of the planet’s population as users. If Facebook succeeds even modestly with its plans for Libra, everyone could be affected.
Denne historien er fra October 2019-utgaven av Fast Company.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 2019-utgaven av Fast Company.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Campus Radicals
Welcome to UATX, Austin's new well-funded and controversial anti-woke university.
What Went Wrong at 23 and Me
The company's DNA spit tests were going to remake healthcare. The science proved more complicated.
Toxic-Workplace Avenger
Her landmark lawsuit helped ignite the Me Too movement. Gretchen Carlson is now on a crusade to protect all workers.
A Lousy Bet
Sportsbooks, leagues, and networks: the new unholy alliance to promote legal gambling.
CAN'T STOP ROLLING
MOBILE GAME MAKER SCOPELY TOOK IN $2 BILLION IN JUST 10 MONTHS FROM ITS HIT GAME MONOPOLY GO. PLAYERS, IT SEEMS, ARE ADDICTED TO THE FUN.
A minimum hourly wage law for NYC delivery workers has boosted their pay-but not everyone is reaping the benefits.
$19.56, the hard way
IT'S A TOUGH JOB BUT GENZ NEEDS TO DO IT
HOW DAVID HOGG IS RALLYING YOUNG PEOPLE TO PURSUE ONE OF THE TOUGHEST AND MOST IMPORTANT CAREERS IN AMERICA: POLITICS.
INNOVATION BY DESIGN
For 13 years, our Innovation by Design Awards have been shining a light on stunning creations. The following pages highlight 20 of this year's winning projects, from an app that helps resettle political refugees to a massive restoration project in Detroit. Plus, a list of winners and finalists in all 50 categories.
How's This for a Cliffhanger?
That poor henchman over there has a hammer stuck in his forehead.
CREATOR ECONOMY
Carpe DM New platforms monetize intimate\" bonds between creators and their fans.
