Earlier this week — following a hefty string of rumours — Facebook announced that it would be launching its own cryptocurrency, Libra, in 2020. And whether the world realized it at the moment or not, that announcement has brought us to the edge of one of the greatest societal shifts since the separation of church and state.
Ten years ago, with the creation of bitcoin, people were given the ability to digitally transact value without the need for a government to manage the financial system. Bitcoin marked the beginning of the separation of money and state. Changes of this magnitude take time, and the growth of cryptocurrencies is still ramping up. But that is about to change.
By next year, users will be able to transact
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