Say what you will about Mark Zuckerberg, he’s not stupid.
He’s now using OPM (Other People’s Money) to create a new cryptocurrency to be called “Libra.”
The Wall Street Journal noted today that his partners include VISA, Mastercard, PayPal and Uber, among others.
The digital coin is still under wraps; a white paper is to be introduced next week.
It will apparently be constructed as a “stable coin” that will be pegged to a basket of fiat currencies to avoid wild fluctuations in value (see Bitcoin) and will allow transactions among the partners.
With 2.4 billion Facebookers, it may catch on.