Facebook may have too many users for its cryptocurrency to fail — even if you don’t trust it | Recode

On a related note, see Facebook’s digital currency would be great — if it didn’t come from Facebook | Boston Globe

"Those who are skeptical about Libra’s potential point to Facebook’s approach to data collection and its well-known privacy missteps, which are particularly troublesome in a crypto industry that prizes “decentralized” power. Some crypto investors and executives are deeply skeptical that a company as rapacious as Facebook could ever seriously commit itself to the value of decentralization that’s at the core of the crypto industry.

But most people I’ve spoken with in recent days believe Libra can be successful, largely because of Facebook’s enormous scale. They’ve posited that the platform’s unprecedented user base is the only global population that’s big enough to organize around a single currency. In addition, Libra’s initial list of backers is impressive. Some think it might be an on-ramp to widespread consumer adoption of other digital currencies like bitcoin."

Facebook may have too many users for its cryptocurrency to fail — even if you don’t trust it | Recode