Will Libra cryptocurrency give more political power to Facebook globally?

The Libra is being designed as a form of electronic money linked to many national currencies

Facebook has announced a plan to launch a new cryptocurrency named the Libra, adding another layer to its efforts to dominate global communications and business. Backed by huge finance and technology companies including Visa, Spotify, eBay, PayPal and Uber – plus a ready-made user base of 2 billion people around the world – Facebook is positioned to pressure countries and central banks to cooperate with its reinvention of the global financial system.

In my view as a social media researcher and educator, Facebook CEO Mark Zuckerberg