{"id":4857,"date":"2019-11-27T13:56:38","date_gmt":"2019-11-27T12:56:38","guid":{"rendered":"https:\/\/www.newmoneyreview.com\/?p=4857"},"modified":"2019-12-09T12:22:29","modified_gmt":"2019-12-09T11:22:29","slug":"facebooks-money-moonshot","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2019\/11\/27\/facebooks-money-moonshot\/","title":{"rendered":"Facebook&#8217;s money moonshot"},"content":{"rendered":"<p style=\"font-weight: 400;\">Facebook\u2019s Libra project, announced this summer, shook up politicians and regulators by showing how quickly the digital money race is accelerating.<\/p>\n<p style=\"font-weight: 400;\">To understand what&#8217;s going on, we need to look at a few key areas of competition, says Huw van Steenis, a banker at UBS and one of the world&#8217;s leading finance analysts.<\/p>\n<p style=\"font-weight: 400;\">\u201cLibra has brought four issues together,\u201d he says.<\/p>\n<p style=\"font-weight: 400;\">\u201cFirst, there\u2019s the tokenisation of money, and how this can be used to reduce friction in the system.&#8221;<\/p>\n<p style=\"font-weight: 400;\">&#8220;Second, there\u2019s the question of whether payment should be done on bank infrastructure rails, credit card rails or a completely new set of rails, as in China.&#8221;<\/p>\n<p style=\"font-weight: 400;\">&#8220;Third, who should control digital wallets? Should it be big tech companies, telcos or banks?&#8221;<\/p>\n<p style=\"font-weight: 400;\">&#8220;Finally, who gets to control the data and the ecosystem that goes around it?\u201d<\/p>\n<p>Listen to our interview with van Steenis in <a href=\"https:\/\/blubrry.com\/newmoneyreview\/52446903\/facebooks-money-moonshot\/\"><em>the latest episode of our podcast<\/em><\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-4856\" src=\"https:\/\/beta.newmoneyreview.com\/wp-content\/uploads\/2019\/11\/HvS-232x300.png\" alt=\"\" width=\"232\" height=\"300\" srcset=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/11\/HvS-232x300.png 232w, https:\/\/newmoneyreview.com\/wp-content\/uploads\/2019\/11\/HvS.png 303w\" sizes=\"auto, (max-width: 232px) 100vw, 232px\" \/><\/p>\n<p><em>Huw van Steenis<\/em><\/p>\n<p><em>Don\u2019t miss any more New Money Review content:\u00a0<a href=\"http:\/\/eepurl.com\/du6eTr\"><strong>sign up here<\/strong><\/a>\u00a0for our newsletter<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Facebook\u2019s Libra project, announced this summer, shook up politicians and regulators by showing how quickly the digital money race is accelerating. To understand what&#8217;s going on, we need to look [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":4862,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1013,1053,1026,1014],"tags":[1600],"class_list":{"0":"post-4857","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-account","8":"category-featured-1","9":"category-latest-slider","10":"category-payment","11":"tag-huw-van-steenis"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Facebook&#039;s money moonshot - New Money Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmoneyreview.com\/index.php\/2019\/11\/27\/facebooks-money-moonshot\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Facebook&#039;s money moonshot - New Money Review\" \/>\n<meta property=\"og:description\" content=\"Facebook\u2019s Libra project, announced this summer, shook up politicians and regulators by showing how quickly the digital money race is accelerating. 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