Facebook’s Libra is causing issues in the validity and safety of the product. Users of the social platform reported the presence of fraudulent accounts and advertisements attempting to sell early investments into the currency which is not yet available.
With an innovative idea such as digital currency making a presence on social media, the safety and value were the first concerns in question. Because fraud was present before the product even launched, businesses and consumers may lose trust in the safety of their potential assets.
“We’ve seen the implications of disinformation spreading across social networks. I don’t think I have to sell you on the importance of identifying and actually doing something.” -Svitlana Volkova, a Pacific Northwest National Laboratory senior scientist