CNBC:

acebook is unveiling an ambitious plan to create a new digital currency and financial system to transform the way money moves around the world, and not just on its own apps.

The Libra currency will not be run by Facebook, but rather by a nonprofit association supported by a range of companies and organizations. But Facebook does have a plan to profit from it with a new subsidiary, Calibra, which is building a digital wallet of the same name for storing and exchanging the currency.

You’d have to be a completely ill-informed moron to use a digital currency system backed by Facebook. Sadly, Facebook is full of those people and this will be a huge success.