Facebook’s Cryptocurrency – Is Silicon Valley about to redefine banking?

Facebook recently announced a new digital currency called “Libra”. The company is partnering with 27 other businesses and organisations to start the crypto as an open-source digital currency. Facebook says that it aims to make it as easy to send money around the world as it is to send a selfie or a WhatsApp message. Libra represents a huge step forward for the entire digital currency space, but is it actually like a Bitcoin, Ethereum and Ripple or a traditional fiat currency like USD, Euro and GBP? And what does it mean for the banking industry? Let’s explore!