Research: 49% of British and American Citizens Do Not Trust Facebook’s Cryptocurrency

Recent research by messaging app Viber reveals that many American and British customers show no trust to Facebook's recently announced cryptocurrency Libra. The results of the survey were published by Telecoms.com on Tuesday, July 23.

                                

According to the poll, in the United Kingdom, 49% of the respondents do not consider new digital currency secure and trustworthy due to privacy concerns related to Facebook. Only 4% of the participants noticed they would rely on Facebook, and 28% confessed they have not decided on it yet.

As for the United States, 49% of respondents would refrain from using Libra, while only 2.5% claimed they would trust the social media giant.

Facebook revealed its long-awaited cryptocurrency Libra in mid-June. The blockchain ecosystem for Libra will be deployed in the beginning of 2020. Moreover, the company is going to launch its own crypto wallet Calibra.

The Libra blockchain will be operated by nodes represented by 27 major companies, such as Visa, Uber, MasterCard, eBay, PayPal, and others. According to TechCrunch, each of these firms invested at least $10 million in the project.

Facebook’s announcement has already attracted the attention of the U.S. authorities and an intergovernmental anti-money-laundering organization, Financial Action Task Force (FATF). While FATF is seeking to tighten crypto rules and enforce control over crypto transactions, U.S. authorities introduced a bill that aims to bar major tech companies from acting as financial institutions.

Research: 49% of British and American Citizens Do Not Trust Facebook’s Cryptocurrency

FURTHER READING: Winklevoss twins win stablecoin patents

FURTHER READING: Tullow Oil expects $1.5 billion write-down on oil outlook

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image