Conmen are making a quick buck tricking those curious about Facebook-backed digital currency Libra, even selling fake investment opportunities on Facebook itself.
Much of the commentary about Facebook’s proposed Libra coin has focused on its defects as a cryptocurrency – centralised governance, weak privacy protections – or as a payment processing system – low throughput, inability to handle multiple currencies.
I think it’s more interesting to examine the process for creating Libra rather than specific technical features. But Libra is a work-in-progress. Its whitepaper describes aspirations, not technical design.
