Facebook's digital wallet project head speaks with CNBC

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Facebook announced a new digital currency on Tuesday called “Libra.” The company is partnering with 27 other businesses and organizations to start the crypto as an open-source currency. Facebook says it aims to make it as easy to send money around the world as it is to send a photo. David Marcus, head of Facebook’s Calibra, joins “Squawk Box” to discuss the roll out.

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36 thoughts on “Facebook's digital wallet project head speaks with CNBC”

  1. To those saying its XRP and that they “trust” Ripple; have you forgotten how they are ripping you off?? Come on.

    Libra is an interesting strategy, but it wont be the last one. We’ll have to see if adoption can be what they expect it to be

  2. lol the USA has a stable currency? It keeps printing money and inflating it, how is this stable? The dollar is worth less everyday. Prices keep going up! Is this stable?

  3. Control wallets…. oops, sounds like Facebook will have its hand in your buying/money on top of already having and using Facebook subscribers personal information…. move over Big Brother, you have competition.

  4. Lame Corporate Lair !
    'supplanting' the need to exchange money. the need to spend money… vicious and unstable tech-capitalism. A so called social networking disease is now unfolding its true demonic totalitarian reach… Screw this crypto corporate heist… Boycott Facebook – An Enemy of Open Society.

  5. Despite the Naysaying, the complexity, lack of oversite and volatility is what has kept Bitcoin and Ethereum from ever becoming more than a cashcow for GPU makers and a hobby for miners. Libra keeps the Good, No cost transactions, Ubiquitous availability, and Blockchain security while removing other cryptocurrencies negatives like extreme value fluctuations. China has gone Cashless, it's time we caught up.

  6. why even need government at that point? Once the democrats get in office amazon and Facebook could easily recruit and forms FBA militia program. This is literally the formation of a new government. HAIL LIBRA!!

  7. Just a Zuckerberg project to try bring down the Winklevoss twins. He can’t stand that they became billionaires off his Facebook settlement money with Bitcoin.

  8. If Bitcoin had just got its shit together without all the infighting and egotistical clowns who are involved then this could have been Bitcoin's real chance to have gone ballistic. Yes all the Bitcoin maximalists can sit and moan all day about Libra and what it is and what it is not but this was a real chance missed.

  9. Yeah, right. Blah blah blah. Facecrook will never control my money. Period. They clearly have violated people’s privacy over and over again. What makes anyone think that they won’t continue to do it again? Now, with your spending habits identified along with a bread crumb trail of your transactions they have enough information to OWN you! They’ll be in league with ALL governments to freeze your entire transaction life across the globe. This is NOT a true cryptocurrency. It’s merely a payment system using blockchain technology.

  10. Instead of trusting my Central Bank (Reserve Bank of India), which is owned by My Government (which is accountable to me or I can atleast vote them out), I am supposed to trust the Libra Council, aka a bunch of Corporations acting as a Central Bank. During this time, all my transaction are available on a public ledger. Great, I'll just use UPI.

  11. Complete and utter garbage.
    Their idea of ‘other’ competing wallets is a huge diversionary tactic. These ‘other wallets’ are just pawns in their little game to give the appearance of competition inside their crypto-ecosystem which they will ultimately control. Just like they used small businesses to expand FB Business pages and then later turned on those very same small businesses by monetizing certain features of FB Business Pages that were originally free. They will do the same thing to these 'other wallets'.

    Their strategy is simple:

    • Get people hooked on the free/low cost version,

    • Make it essential and part of everyday life,

    • Corner the market,

    • Start with the fees.

  12. Please cover stakenet blockchain. It is developing the first real Dex built on the lighting network with no accounts, kyc and geo blocking. It is the only blockchain with offline staking system. And it is developing CCPOS that allows stakers of it's coin xsn to earn bitcoin by staking xsn offline. check it on stakenet.io .

  13. This is typical service that criminal organisations, cartels of drugs.,… to launder money ! Regulators should be alerted on the danger of such service

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