The social media giant

takes on the finance

industry with Libra

BY CHRIS LLOYD

FACEBOOK’S LIBR A is

nearing launch, and if the

plans bear fruit, it’s going to

be the most disruptive thing

to come out of Silicon Valley

for years. Let’s start with

what Libra isn’t. It’s not a

cryptocurrency, you won’t be

able to mine coins, and it’s not

an opportunity for speculation

or investment. It does use

similar blockchain tech to

drive it (see “The Blockchain”

box), but it’s a closed system

designed for stability. It’s

also designed to be fast,

something bitcoin struggles

with (it can barely manage

FACEBOOK’S

Facebook’s new money

44 MAXIMUMPC OCT 2019 maximumpc.com