Facebook Can’t Just Create a Currency

The social media giant wants to create a global cryptocurrency called Libra, but it doesn’t seem to understand all the rules and regulations that would—and should—come with it.

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Episode Notes

In this episode, Aaron Mak looks into Facebook’s plan to create a global cryptocurrency called Libra. For an expert opinion, he turns to Chris Brummer, a law professor at Georgetown University Law Center and the host of the podcast Fintech Beat. Brummer testified before the U.S. House of Representatives last week to explain why Facebook is jumping the gun with its proposal.

After the interview, Shannon Palus joins the show for this week’s edition of Don’t Close My Tabs.

Podcast production by Cameron Drews.

Stories discussed on the show: 

My Frantic Life as a Cab-Dodging, Tip-Chasing Food App Deliveryman,” the New York Times

How DoorDash, Postmates, and Other Delivery Services Tip Workers,” Slate

These Pictures Show How Dogs Were Used to Explore Space,” BuzzFeed News

If Then is presented by Slate and Future Tense, a collaboration among Arizona State UniversityNew America, and Slate. Future Tense explores the ways emerging technologies affect society, policy, and culture. To read more, follow us on Twitter and sign up for our weekly newsletter.


About the Show

If Then is a show about technology, society, and power. Each week, the hosts take you on a lively tour of the tech news that actually matters, from fake news in your Facebook feed to the algorithms that want your job to the Uber drivers who want a job with benefits. With news-making interviews of key tech-industry figures, fascinating academics, and top tech journalists, we explore not only how the technology that’s shaping our world works, but the ideas, ideologies, incentives, and biases that underlie it.

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  • Aaron Mak is a Slate staff writer covering technology.