Show notes
In this episode, we're going to talk about Facebook's new Libra cryptocurrency in 2019 & why you need to understand it. Let's learn together about what the Libra currency will do and why we should know about it.
Facebook has launched a new cryptocurrency Libra. It is a new blockchain and new innovation.
TIME-STAMPED SHOW NOTES[01:10] Today’s Topic: Facebook Libra - the what, the when, the how, the why
[01:18] What is Libra?
[01:31] What differentiates Libra from every other cryptocurrency out there?
[02:33] Facebook won’t be the only organization that runs Libra.
[03:50] The Facebook Libra Reserve
[04:30] What separates Libra from Bitcoin
[06:05] Libra is not completely decentralized
[06:42] App developers on Libra won’t be monitored?
[07:24] Why - Facebook Libra was made to combat high fees charged by credit card companies
[09:02] Will Facebook Libra be shut down?
[09:58] A company having its own cryptocurrency makes it like a country?
[11:20] The traditional banks, the Warren Buffets might put up a fight against Facebook Libra
[11:58] Facebook has been a part of a major breach of our personal data
[12:27] Cambridge Analytica scandal - did Cambridge Analytica do something wrong?
[13:00] If someone on your friends list signs up for a test on Facebook, they now have your information without your consent
[14:30] Data law is now a whole thing
[15:13] Calibra - How is the data going to be privatised?
[16:47] The stance that Libra could be damaging to the US dollar
[17:14] Libra will soon be in full effect
[17:42] What’s going to happen five or ten years from now after Libra goes into full effect?
[18:25] Essentially, what they’re going to do is get rid of everybody using credit cards.
[19:26] Paypal’s a member of Facebook’s Libra
[19:43] Elon Musk’s approach to money
[20:30] I’m not the biggest fan of Steve Jobs.
[20:58] If you have any questions, please email me at admin@inpennystock.com
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