https://www.vice.com/en_us/article/pajv7n/facebooks-new-cryptocurrency-libra-is-for-people-who-have-no-other-options

Facebook unveiled its new cryptocurrency Libra on Tuesday, revealing a global vision that imagines poor people without access to financial institutions in developing nations buying the digital token and using it instead of money or traditional banking services.

Libra is a major play in the finance market by Facebook, which also announced a new subsidiary called Calibra to work with Libra and ensure “separation between social and financial data.” As explained in a white paper released on Tuesday, Facebook’s plans for Libra are at least as ambitious as the Facebook platform itself: Billions of people all using an intangible digital currency issued by corporations.