Facebook Digital Currency: Origin, Meaning, and Consequences

Zewu Jiang
Jun 19, 2019 · 28 min read

On June 18th, Facebook’s Swiss subsidiary Libra Network (Libra Network) will release its white paper on encrypted digital currency projects. Previously, the BBC reported that this digital currency is called GlobalCoin, and the translation is “global currency.” However, it was later reported that GlobalCoin is only an internal nickname for its employees. The official name of the digital currency is Libra (Libra). Although the name is not as sharp as GlobalCoin, Libra itself symbolizes balance and fairness, and Libra sounds like LIBOR (London Interbank…