Everything about cryptocurrencies before June 2018 was tolerable; perhaps it was seen as just a fad. However, things came to a head when on June 18, 2018, Facebook announced that it would join the cryptocurrency bandwagon. In fact, Facebook said it had put together an impressive group of backers that would become part of the Libra Association. With the aim of building a better payment system network, Facebook hoped Libra to broaden access to essential financial services and lower the cost of financial services for billions of people. |
