FILE PHOTO: Libra logo in illustration picture
FACEBOOK Inc has an ambitious goal for its proposed cryptocurrency, Libra: to bring financial services to the hundreds of millions of people world-wide who don’t use banks or other traditional institutions. The cryptocurrency sector has for years tried to do the same and failed.
In the decade since bitcoin was born, cryptocurrencies have fascinated investors and speculators. But the crypto industry has struggled to get consumers to use it for daily transactions, and the bar for reaching unbanked adults in particular could be even higher.
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