If Facebook or Google create their own currency, they can control our lives

Libra offers new revenue opportunities, partly by inviting people to exchange national currencies for the new medium, thereby gifting Facebook and its partners a vast pool of funds. In these territories, and more affluent places, the new currency also offers Facebook the chance to accelerate what sits at the heart of everything it does: the harvesting of endless data, which can then be monetised. Facebook is at pains to address such anxieties, but its initial outline of how the new currency will be used in Messenger and WhatsApp via Calibra is not exactly reassuring.

Source: www.theguardian.com