Talking Politics

What does it mean when Facebook says it wants its own currency?  We explore the power, the potential and the pitfalls of Libra. How does Facebook plan to make money out of making money? Can anyone stop it? And does this represent a fundamental shift in the model of surveillance capitalism? Plus we consider some of the rivals it faces: Bitcoin, WeChat and the good old dollar. Finally, this week we pay tribute to our dear friend and regular Talking Politics contributor Aaron Rapport (1980-2019) with some memories of his many appearances on the podcast.Talking Points:What is Libra?A digital currency that Facebook unveiled in a White Paper last monthIt aims to be a global currency that will bring the unbanked into banking and make certain transactions, such as remittances, easier.Libra itself would be managed by an association of members, including big finance companies, big tech companies, and NGOs. But Facebook would control Calibra, the wallet th