Libra is Facebook's big play. But what problem does it solve for consumers?
by Leagas Delaney
As a media business, Facebook is still performing well, despite relying on consumption and platform usage.
Yet if regulators enable consumers to make increasingly active decisions about their privacy settings, we may well see a change in usage on the platform, and possibly a drop in the value of the media as a result.
Libra is Facebook’s big play. It’s a radical transformation for them – going from a media vertical to creating an ecosystem around consumers with a payment platform at the centre of it.
That being said, there are many fintechs out there providing similar frictionless payment services.
In order for Libra to succeed Facebook must ensure it solves a problem for consumers, especially given usage and consumption is where the value of its platform lies.