How Facebook's Libra Currency Will Work

The video discusses Facebook's Libra, a global stable coin designed for everyday transactions, unlike volatile cryptocurrencies like Bitcoin. It highlights Libra's potential uses beyond Facebook's ecosystem and addresses trust issues due to Facebook's past data scandals. The governance of Libra involves a decentralized network of global organizations. However, regulators express concerns about Facebook's dominance and the potential for money laundering, urging a halt in development until proper regulations are in place.

What is the primary goal of Libra as mentioned in the video?

• To replace the US dollar

• To be a global stable coin

• To be more volatile than Bitcoin

• To be used only within Facebook

Why is Facebook creating a nonprofit organization for Libra?

• To centralize control

• To ensure decentralized governance

• To limit the number of stakeholders

• To increase Facebook's profits

How many organizations are expected to participate in the governance of Libra by its launch?

• 27

• 100

• 200

• 50

What is a major concern of regulators regarding Libra?

• It will decrease Facebook's dominance

• It will be too stable

• It will only be used in the US

• It may promote illegal activities

What is the main reason lawmakers are concerned about Facebook's involvement in Libra?

• The potential for increased dominance in another industry

• Facebook's lack of experience in finance

• The limited use of Libra outside the US

• The high volatility of Libra