Libra Cryptocurrency

Developed in relative secrecy over the past year, Libra is a new cryptocurrency from... Facebook. Obvious concerns first, Libra will be controlled by a Swiss-based non-profit, overseen by other companies, with Facebook's involvement handled by a subsidiary that is not allowed to share financial data with other divisions. It will be backed by real-world currencies like the US dollar, Euro, and Yen, and, if it works as intended, will become a worldwide currency without the fees and delays common with traditional banking. 27 partners, including Visa, Mastercard, PayPal, Uber, and Vodafone have signaled their support so far, with hundreds more expected before the first Libra coins make their way to the public in 2020.

Photos: Calibra

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