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[Live Coverage on Libra Hearing] Mark Zuckerberg Outlines Reasoning Behind Creating Facebook's Own Payment Platform

Ramsey Baker

Summary: During the hearing Chairman Patrick McHenry asked Mark Zuckerberg the reasoning behind creating his own payment platform. Zuckerberg responded that while that is part of the reason for their own payment platform, it is also because he views the United States financial infrastructure as outdated. Libra is Facebook's attempt at rethinking what a modern infrastructure ...

During the hearing Chairman Patrick McHenry asked Mark Zuckerberg the reasoning behind creating his own payment platform.

Zuckerberg responded that while that is part of the reason for their own payment platform, it is also because he views the United States financial infrastructure as outdated. Libra is Facebook's attempt at rethinking what a modern infrastructure would be if one was started today.

By Ramsey Baker

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Link: [Live Coverage on Libra Hearing] Mark Zuckerberg Outlines Reasoning Behind Creating Facebook's Own Payment Platform   [Copy]
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