Cryptocurrency | Facebook Coins Will Not Become Mainstream


According to a survey conducted by financial services Jefferies, Facebook users in America will not use Libra stable Facebook due to lack of trust.

In a survey attended by 600 participants, four out of five people chose "Impossible" or "Very Impossible" when asked whether to buy Libracoin. 45% of respondents will not buy Libra coins because they lack trust in Facebook unless they do not have access to their transaction data.


About 40% of participants reported that they already had a cellular payment wallet that prevented them from using Calibra, (Libra coin purses), "Effectively, without substantial network effects, we don't expect Libra to replace existing forms of cashless payments - at least not in the near future. "

Of the respondents who are interested in using Libra, 12% will be used for goods and services, 14% will send money to friends and family, and 15% will accelerate Libra in both options.

Ryan Waldoch of Finding Alpha explained that "I believe that Libra will allow users to be more inclined to use bitcoin as a peer-to-peer payment system while uncertainty in global markets makes investors flock to bitcoin as a store of value."

Teck Chia, a partner at Binance Labs, said that the Libra project would raise public awareness about crypto. "I think having a company like Facebook, with exceptional reach and distribution, to all countries around the world - makes them interested in cryptocurrency and launches it very, very positively for our industry," Chia said.

Source: coin telegraph


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Cryptocurrency | Facebook Coins Will Not Become Mainstream Cryptocurrency | Facebook Coins Will Not Become Mainstream Reviewed by sheffter on July 05, 2019 Rating: 5

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