Facebook’s New Cryptocurrency Could Work

Bitcoin was an experiment that didn’t quite work, mainly because the value fluctuated so that no one knew quite what they were really getting paid. But Facebook’s recently announced Libra may have solved that problem with tying it to a basket of popular international currencies.
 
Facebook and its partners, some of the biggest financial companies in the world have clearly done a good job of thinking through how to make a digital currency work and it really does have a chance of succeeding as a ubiquitous international currency that saves merchants a lot of credit card fees and does the same for many of the world’s citizens without a bank account who pay high fees to send money via Western Union or other means.
 
Here’s a video that does a good job of explaining how Libra works and why it may be the future of money. How Libra Works (see link on the CIS FB page)
Here’s a link for those not on Facebook. https://www.youtube.com/watch?v=v8yKNmeU30U&feature=youtu.be

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