Is Facebook ‘Libran’ Enough to Use the Term ‘Libra’?

Greer reportedly told Business Insider:

“Libras have a right to be peeved! Facebook is attempting to represent themselves as fair and just, akin to Libra’s most positive qualities. Given their track record, I’m not so sure they’ll be able to live up to the Libra name!”

Libra is intended to be a global stablecoin for use on the world’s largest social network and elsewhere. Facebook is spearheading the effort but has several notable participants including Uber. Not everyone is impressed with the effort, including astrology believers.

Dash Core CEO Ryan Taylor believes that Facebook is just pulling a stunt they’re not prepared for:

Facebook’s Crypto Gambit

Business Insider’s Paige Leskin asserts that Libra is an attempt to repair a damaged image at Facebook. The company’s involvement in the Cambridge Analytica scandal, facilitation of fake news during the 2016 elections, and potentially racist advertising algorithms have all left a bad mark on the company.

CEO Mark Zuckerberg has said that Libra is part of Facebook’s transition to a privacy-respecting platform. Many people are less than excited about Facebook’s efforts to pivot and reposition itself. Astrology believers, in particular, see right through the company’s choice of name.

Greer continued to Leskin:

“Perhaps Facebook is trying to claim this new cryptocurrency will be one that attempts to replicate these Libran standards of morality, fairness, and balance in its use of monetary exchange? Seems like a nice picture to paint of itself.”

Another astrologist told Business Insider that Facebook is right to choose the Libra in these times. However, they’re probably ill-suited for the astrological sign. Clair Goodchild said:

“Now is the time for us to be acting with the diplomacy and compassion embodied by Libra … which frankly, I just don’t see with Facebook.”

Back in the real world, not everyone agrees.

Some feel the Libra project propels the bitcoin price and presents a unique opportunity for the unbanked to participate in the digital economy. Libra comes out of the box with perhaps wider merchant support than any other cryptocurrency before it.

Libra definitely has a better ring to it than GlobalCoin, but Libras like this reporter and Craig Wright may not like the association.

Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN Markets.