With cryptocurrency here to stay, the big question for the authorities will be how to embrace this new means of exchange
Facebook has announced plans for a new digital currency that has raised hackles worldwide. The social networking company hopes to offer an alternative to money issued by governments. Libra has been unveiled at a time when the Bitcoin mania has petered out, its recent bounce notwithstanding. Bitcoin may have been an attractive investment asset for early investors, but this column has earlier pointed out some fatal flaws in its design that make it unviable as an alternative monetary unit.