FACEBOOK HAS LIFTED THE LID on its forthcoming blockchain currency, Libra. This isn’t a bitcoin rival; it’s pegged to the value of real assets, a basket of stable currencies, so its value won’t jump around alarmingly. Unlike typical blockchain “coins,” it will be tightly controlled, too. It’s not really a cryptocurrency, but international online money. Wallets are integrated into Facebook apps, and you can exchange money from within them. Don’t panic, though: It won’t be controlled by Facebook, but by a separate association, along with 27 other partners, including Visa and Uber. The fees are said to be “minimal,” and interest will be earned on any holdings. A major target is the millions of people around the world without access to banks, but with smartphones, which is a big market.…
