Facebook plans to launch their digital currency, Libra with its mission to "bring the world closer together" and the president of the United States, Donald Trump and his Democratic opponents in Congress are dubious about the idea.

Facebook says Libra is expected to be launched in 2020 and described Libra as a blockchain-based digital coin that will let Facebook users to send and receive money or to pay service. According to Facebook, Libra can be tied to a basket of low-risk securities, traditional, and government-issued currencies.

The appeal for Libra is that it can be a bridge between two worlds that weren't designed to mix traditional finance and cryptocurrencies. Also it is to make it easier to transfer funds between people and companies.

Members of the U.S. Congress from both political parties are wondering about Facebook's security and practices. President Donald Trump tweeted that he's not a "Fan" of digital coins in general and asserted Libra with the comment "It will have little standing or dependability." Jerome Powell, a Federal Reserve Chairman, said he has "serious concerns" about the cryptocurrencies. Also, Treasury Secretary Steven Mnuchin described Libra as "a national security issue." The opportunities for money laundering and other illicit activities, U.S. governors expressed negative opinions towards Libra and cryptocurrencies in general.

To these concerns, Facebook says it will turn over control of the cryptocurrency to the Libra Association that made up of the partners. Then they will operate a version of a blockchain, and it will be under control of association members unlike other blockchains such as Bitcoin or Etherium.

Even though there are obstacles for Libra to be launched, David Marcus, ahead of Facebook Blockchain project, believes he can address the concerns of regulators and politicians and continues to go on.

If Facebook succeeds, it can create a new world currency, like the dollar and the won, only differ in lack of regulations by central banks. Moreover, this is why the U. S. governors and people who hate Libra feat the most.

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