Facebooks Virtual Currency Sparks Concern for the Traditional Banking Sector

By in

The recent hype surrounding the launch of Facebook’s own, new digital currency and payment service (the Libra) has obviously been the talking point for many weeks; with financial experts generally predicting the likely profits based on the investments and projections.

Now the voices of concern are speaking out, mainly among regulators that if used by a majority of Facebook’s multi-million user database, the new currency could disrupt traditional financial services, and even have a knock-on effect to central banks.