Facebook finally on feels its crypto currency so could libra transform traditional Payment Systems and will governments seek to regulated. Also on the show all eyes are on istanbul ahead of sundays mejor old election to voters punish the ruling party for turkeys economic woes. Real estate costs are skyrocketing in berlin driving the german capital to consider an unusual solution. And unlocking the hidden beauty of snails well share some surprising uses for europes liveliest cash crop. Welcome to business im Stephen Beers and glenn its good to have you with us can facebook take cryptocurrency mainstream the Worlds Largest Social Network unveiled the digital coin it plans to roll out next year a libra is its name and proponents say it might just revolutionize digital payments
under a single streamlined currency now over a dozen global firms will invest in and govern the currency including master card vodafone and as group will supposedly wall off control of the currency from facebook its
is to send a photo so we were already testing this and india with about a 1000000 people it s been used a lot in the feedback so far is great and we re already working on rolling this out in a number of other countries later this year and for more on this let s go now to our financial correspondent in new york. yes some heady ideas there facebook thinks it has the scale to mainstream cryptocurrency but there are still big questions aren t there well and one of the big questions certainly is how about regulatory side with the acquisition solve what s up and instagram and the positive couple of years of facebook already has become a dominant player into recently from different politicians they have been called to break up facebook and now that facebook might become one of the dominant players in
facebook finally on feels its crypto currency so could libra transform traditional payment systems and will governments seek to regulated. also on the show all eyes are on istanbul ahead of sunday s mejor old election to voters punish the ruling party for turkey s economic woes. real estate costs are skyrocketing in berlin driving the german capital to consider an unusual solution. and unlocking the hidden beauty of snails we ll share some surprising uses for europe s liveliest cash crop. welcome to business i m stephen beers and glenn it s good to have you with us can facebook take cryptocurrency mainstream the world s largest social network unveiled the digital coin it plans to roll out next year a libra is its name and proponents say it might just revolutionize digital payments
under a single streamlined currency now over a dozen global firms will invest in and govern the currency including master card vodafone and as group will supposedly wall off control of the currency from facebook itself the new coin will be pegged to a basket of global currencies such as the dollar and the euro with the intent of shielding it from the wild fluctuations that are plagued big and scared off many average investors the big question will it catch on facebook is betting that the scale of its social network alone with 2400000000 monthly users will forge a new huge marketplace for streamline purchases and exchanges the social network is also says that libor will help to bridge the so-called banking gap giving the 1700000000 people around the world who do not have a bank account a secure alternative to cash so why a crypto currency here s how facebook c.e.o. mark zuckerberg 1st publicly framed the idea a few weeks ago. i believe that it should be as easy to send money to someone
the crypto world it is hard to imagine that there will not be some regulatory scrutiny on facebook so that is one of the big ifs and then facebook itself is saying that what we ve seen right now is libra it s a prototype so far so let s see how this whole old thing will work in the next couple of months to come so you know the excitement 1st and the details come later now you stay with us while we look at another market story u.s. president donald trump criticizing mario draghi on twitter after the european central bank chief hinted at future interest rate cuts to lift flagging growth a trump said drug he was trying to lower the value of the euro in a bid to boost european markets investors saw his tweets as evidence that the u.s. self will soon cut interest rates markets were also we when we did we would meet chinese premier she jean king at the g. 20 this month for trade talks. the dow moving up and down on