Digital currency Bitcoin’s value has soared to a one-year high, at the same time as Facebook unveils its own cryptocurrency.
“Libra” is being designed by a consortium of companies including Visa, Mastercard, PayPal and Uber. Facebook will launch a “wallet” app for buying and selling Libra, called Calibra, and will let people use it for payments over WhatsApp, the global messaging service, and Facebook Messenger.
So – should you buy Libra when it finally launches?
Cryptocurrencies were initially designed as an alternative to conventional money, outside of the control of central banks and governments. Cryptocurrencies operate on a “blockchain”, a record of transactions designed to be resistant…