
Facebook doesn’t have much consumer trust. But it does have a hell of a lot of consumers.
And that’s enough to make Libra, the new virtual coin that Facebook is announcing on Tuesday, the most consequential cryptocurrency effort undertaken in several years.
Cryptocurrencies can be used to digitally pay for goods and services, like a credit card, and to transfer funds, like Venmo. So far, most people haven’t adopted them as a common form of payment. The most well-known virtual coin, bitcoin, has instead functioned more like an investment asset. But Libra has the potential to become a way …