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NY Times Is Wrong on Facebook, Libra Poses No Systemic Economic Risk

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By CCN Markets: The New York Times suggests that Mark Zuckerberg is making a terrible move with his Libra cryptocurrency. The social media behemoth is certainly not early, but that doesn’t mean it won’t get a proper taste of the punch. Matt Stoller, who wrote the piece, goes on to claim: “The way we structure money and payments is a question for democratic institutions, not technology companies.” He argues that some fundamental problems will hold Libra back as it sets a lofty goal of taking the crown as global currency for a new world. Fallacy One: Organizing Payments Requires Enormous

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* First published on ccn.com

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