Libra could give control of monetary policy to private companies, says Facebook co-founder
Chris Hughes, one of Facebook’s co-founders, warns against the social media giant's plans for Libra, a cryptocurrency based on fiat money collateral. Libra, according to Hughes, could allow Facebook and the other protocol's founding partners to wield power over nation states. “If even modestly successful, Libra would hand over much of the control of monetary policy from central banks to these private companies.” said Hughes.
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