What is Libra- Facebook Currency?

While we are still learning about cryptocurrency, blockchain, and Bitcoin, Facebook is working towards creating a brand new currency: Libra. Facebook has teamed up with tech companies, telecommunication companies, venture capitalists and other industry leaders to start working on this digital currency.

Facebook’s project is ambitious, yet it is facing criticism for Libra. For starters, the lack of proper regulation in the digital currency and the cryptocurrency market leaves no protection for consumers or their money. Vice versa, it becomes difficult to monitor such markets and they eventually become fronts for illegal activities. So the question remains: Does the world really need Libra?