Why Facebook's Libra Coin is the opposite of Bitcoin

To cryptocurrency enthusiasts, Bitcoin represents freedom and decentralisation. On the surface, Libra Coin, Facebook's planned cryptocurrency, could have a similar appeal - but in fact, it's completely different.

Libra's stated mission is "to enable a simple global currency". It is governed by an association of Founding Members which include Mastercard, Visa, PayPal, eBay and Vodafone Group.

Far from being a system of freedom and empowerment, I fear that Libra could pave the way for a global social credit system, a financial lever of global control.

Credits

Inside China's high-tech dystopia:
https://www.youtube.com/watch?v=ydPqKhgh9Mg

Libra coin image: https://pixabay.com/illustrations/libra-crypto-currency-facebook-4284008/