One of Facebook's stated goals with Libra, to help those without a bank, is undermined by detailed research, which shows solutions are often local and personal
like my home country, the Philippines—where 77% of ppl (!) are unbanked, Libra cuts transaction fees, and lots of OFWs send money back home Dr Uta Meier-Hahn / @zielwasser : This is an interesting analysis of why Facebook's Libra currency might not actually contribute to financial inclusion (in the US). For one, the initiative is not coupled with measures that actually address the reasons why people don't open bank accounts. https://ftalphaville.ft.com/ ... James Mackintosh / @jmackin2 : The problem for Facebook shareholders in going after the global unbanked is they generally don't have very much money, which is why they don't use banks. My guess is that isn't really the plan. Tony Tassell / @tonytassell : Facebook's Libra will not help the unbanked - really good @ftalpha blog by @bhgreeley that dismembers the sales pitch from Facebook on the currency's social good - part of @ftalpha's Breaking the Zuck Buck series https://ftalphaville.ft.com/ ...