# How Facebook's Libra could endanger the economy? | bestbrokers.co.uk

**URL:** <https://forums.bestbrokers.co.uk/t/how-facebooks-libra-could-endanger-the-economy-bestbrokers-co-uk/461>\
**Category:** News\
**Created:** [19 August 2019 14:47 UTC](https://forums.bestbrokers.co.uk/t/how-facebooks-libra-could-endanger-the-economy-bestbrokers-co-uk/461 "2019-08-19T14:47:45Z")\
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**Author:** ![RickTheMac](https://forums.bestbrokers.co.uk/user_avatar/forums.bestbrokers.co.uk/rickthemac/32/60_2.png) [@RickTheMac](https://forums.bestbrokers.co.uk/u/RickTheMac)\
**Post date:** [9 September 2019 10:57 UTC](https://forums.bestbrokers.co.uk/t/how-facebooks-libra-could-endanger-the-economy-bestbrokers-co-uk/461/2 "2019-09-09T10:57:02Z")

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Carlo -

Yes, a very good article that outlines many of the increasing concerns of the impacts from this relative newcomer to the financial arena.

Many that I already voiced in [a previous comment on here] in late July of this year. ([Bitcoin vs. Libra: What should you invest in ? | bestbrokers.co.uk - #2 by RickTheMac](https://forums.bestbrokers.co.uk/t/bitcoin-vs-libra-what-should-you-invest-in-bestbrokers-co-uk/454/2)):

But let’s not forget that Facebook from inception until 2014 was primarily associated with social networking - underlined by their acquisitions of the likes of Instagram in Apr 2012 and WhatsApp in Feb 2014.

However, once you dig a little deeper it becomes readily apparent that the real strategy for the future of FB, from later in 2014 and onward, has been to capitalise on earnings growth through greater diversification - we have seen them buy out the immersive virtual reality experience provided by Oculus VR

[https://www.oculus.com/?locale=en\_GB](https://www.oculus.com/?locale=en_GB)

the UK drone company Ascenta,

> **[Facebook buys UK-based drone company Ascenta to 'beam' internet from the sky](https://www.campaignlive.co.uk/article/facebook-buys-uk-based-drone-company-ascenta-beam-internet-sky/1287644)**
>
> Facebook has acquired UK-based Ascenta to benefit from its unmanned aircraft expertise as part of Mark Zuckerberg's mission to connect everyone in the world to the internet.

ProtoGeo Oy from the fitness and health monitoring market,

> **[Gigaom](https://www.facebook.com/Gigaom/posts/facebook-acquires-protogeo-oy-a-software-company-that-makes-the-fitness-tracker-/10152415280272269/)**
>
> Facebook acquires ProtoGeo Oy, a software company that makes the fitness tracker app Moves.
> 
> http://gigaom.com/2014/04/24/facebook-acquires-protogeo-oy-maker-of-fitness-tracking-app-moves/

Vidpresso a leader in interactive video streaming and conferencing

> **[Vidpresso](https://www.facebook.com/Vidpresso/)**
>
> Vidpresso. 902 likes. www.vidpresso.com

and the UK/Israeli team messaging app Redkix

[https://uk.reuters.com/article/us-facebook-m-a-redkix/facebook-buys-israeli-messaging-company-redkix-idUKKBN1KG1YX](https://uk.reuters.com/article/us-facebook-m-a-redkix/facebook-buys-israeli-messaging-company-redkix-idUKKBN1KG1YX)

So it should have been no great shock to those ‘_in the know_’ when Libra was announced, especially in light of rumours running around the industry in late 2018 early 2019..

But has this been a step too far and/or too soon for MZ?

Many seem to think so and are seemingly joining forces to

> **[Libra: Could Facebook’s new currency be stopped in its tracks?](https://www.bbc.co.uk/news/business-49090753)**
>
> How Facebook’s Libra could be stopped in its tracks

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