Facebook’s new currency isn’t convincing many

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Facebook is moving into the financial world. Mark Zuckerberg’s world-conquering social network has a new global digital currency slated to arrive in 2020. With it comes Calibra, an app that acts as a digital wallet. Will Facebook’s 2.38 billion monthly active users jump on board this venture? Many people remain uneasy.

Facebook calls the Libra coin a cryptocurrency, but unlike Bitcoin and its volatile imitators, these Zuck bucks are backed by a reserve of real-world currency to protect against price fluctuations. In theory, it should be …
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