Facebook Says Its New Cryptocurrency Will Be Better Than Bitcoin

The video discusses Facebook's introduction of Libra, a cryptocurrency expected to debut in 2020. Libra aims to provide a stable digital currency for everyday transactions, potentially rivaling the US dollar. Facebook's move into finance is significant due to its vast user base and partnerships with companies like MasterCard and Visa. However, there are concerns about regulation and potential misuse for money laundering. Libra will require government ID verification to address these issues.

What is one of the main goals of Facebook's Libra?

• To create a new social media platform

• To stabilize cryptocurrency fluctuations

• To replace the US dollar

• To eliminate the need for banks

Which companies are involved in the governance of Libra?

• Twitter and Snapchat

• Amazon and Google

• MasterCard and Visa

• Apple and Microsoft

When is Libra expected to go live?

• In five years

• In the next few months

• It is already live

• Next year at the earliest

What is a major concern of the French Finance Minister regarding Libra?

• It will be backed by gold

• It could destabilize the Euro

• It is backed by low volatility assets

• It will increase Facebook's user base

What measure is Facebook implementing to prevent money laundering with Libra?

• Limiting transactions to $1000

• Requiring government ID for transactions

• Using blockchain technology

• Partnering with law enforcement