Facebook Should Link Its Libra Cryptocurrency To Gold – Steve Forbes

Billionaire publisher Steve Forbes wrote a letter to Mark Zuckerberg last week encouraging Facebook to back Libra with gold:

Dear Mr. Zuckerberg:

Your company made big headlines when it announced it would be launching a cryptocurrency called the Libra in 2020. Not surprisingly, given the nature of the times, the project has been greeted with intense criticism and skepticism. Don’t lose heart. In one sense, the idea of a company creating its own kind of money is an old one. The airlines’ frequent-flier miles are really a form of money that customers can earn and use to buy trips and various other things. Credit card companies, hotels and numerous retailers have all sorts of loyalty programs in which people earn points that will let them buy all manner of goodies.

 “But if you play your cards right with the Libra, you could be to money and finance what Henry Ford was to automobiles. Your new currency could take its place alongside the inventions of coins and paper money many centuries ago. 

It could replace the U.S. dollar as the global currency. “  

Full article via Forbes here

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