I don't think this article says much more than what previous articles have said. The quotes used even feel like the same quotes I've seen in other places. The one thing I do like is the comparison the PayPal. It's not a perfect one since PayPal started as nothing and went big, and Facebook is starting huge and getting huger, but seeing that comparison is interesting.

Reads more like a high tech scare piece than the substantive analysis of Facebook's new Libra currency it purports to be. The gist here seems to be "Facebook has done bad stuff with data in the past, and now its trying to create a currency! Awful!" The reality is, regardless of what Facebook calls this new currency, it is definitely not the "cryptocurrency" all the marketing materials claim it to be. Cryptocurrency is decentralized, uncensorable, and transparent. Libra uses a centralized group of validators, will be able to censor transactions/users at will, and there is no way to control the issuance of new assets. Pretty much the definition of fiat currency (and why real cryptocurrency like bitcoin exists in opposition).

This article provides good context on Facebook's new cryptocurrency Libra, as well as how it relates to Peter Thiel's (Facebook Board Member) previous company PayPal. It misses out on five stars because it fails to honestly portray how a Facebook currency would do fantastic things for the unbanked people of third-world countries that already have Facebook profiles. I understand that we should be very wary of Facebook having any more control over the global financial situation, but it's important that those of us with access to sound financial institutions and banking not ignore the need millions of others around the world still have for these solutions.