Summary:

This week Francis and Jerome go over the Facebook backed Libra Cryptocurrency. With a large global userbase across Facebook, WhatsApp and Instagram, the announcement has caught the attention Regulators and Central Bank officials.

Libra is going to be operated by the Libra Association which includes firm such as Uber, Lyft, Mastercard, Spotify, Coinbase etc. This is a separate entity to Facebook and will be based in Switzerland.

One of the key points covered in the episode is who the coin is being aimed at, which are people in South America, Africa and Asia, who are considered “unbanked”, or put simply people who do not have access to modern banking and payments.

Correction:

Wallets don’t hold your cryptocurrency; they hold your private key which is the code you need to be able to access your cryptos.

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