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Any other business

Why I welcome the collapse of Facebook’s currency

19 October 2019

9:00 AM

19 October 2019

9:00 AM

When Facebook announced details earlier this year of a global digital currency called Libra — backed by a roll call of other corporate giants — I declared myself a sceptic on the grounds that behind its libertarian sales pitch, the concept was really ‘a power-grab for cash balances and personal data out of the conventional banking system’.

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