Encrypted

Gabriel Abed Is the Founder of Bitt, a company known for inventing central bank digital currencies. In this special episode, Ahmed and Gabriel take a deep dive into Libra, Facebook’s recently announced cryptocurrency that they will be launching in 2020. Everything you need to know about Libra such as what it is, the economics behind it, how it will work and also the Libra Foundation are all discussed and explained. More importantly they discuss what Libra means for: • Common users • Central banks and banks • The payments industry and companies such as Paypal, Mastercard and Visa • The crypto industry and bitcoin in particular • Governance and data privacy Among the takeaways from this episode and the Libra project itself are: • No banks are involved at the foundation level • Private forms of money that are not government issued rarely exist, and if they do, they operate at such a small scale i.e. loyalty points, community points. Facebook’s willingness to create a cryptocurrency means they are creating a