Balancing act

Why Facebook’s Libra might be a good thing

Richard Waters4 min readFinancial Times

When companies are threatened with retaliation by powerful politicians merely for exploring a radical new business idea, it doesn’t bode well for innovation.

That is what has happened in recent weeks with Facebook’s cryptocurrency project, Libra. A quarter of its initial supporters have now backed out. For the payments companies involved, it made sense to protect their current businesses rather than defy politicians over a project with long odds of reaching the finish line.

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