Facebook has been planning to launch their own cryptocurrency, Libra. They’re hoping to “transform the global economy.” Libra is being developed by Facebook, but the company intends to share control with organizations. Credit card companies, venture capital firms and other tech companies include some of those organisations.

When it launches, users will be able to send Libra inside of Facebook Messenger and WhatsApp and is meant as an intermediary for transferring currencies. Facebook hopes that Libra will be accepted as a form of payment and other financial services will be built on top of it’s blockchain-based network.

Alongside that, Facebook is launching a subsidiary company, Calibra which develop products and services based on Libra. This is where Facebook intends to make money off cryptocurrency, and their first service will be the launch of it’s digital wallet. Calibra will also handle Libra integrations for Facebook’s other products and services

But let’s keep something in mind here folks. This isn’t to disregard Facebook’s previous issues with security and privacy and being a conduit of social and political issues around the world. After the announcement, Libra and Facebook faced immediate backlash from regulators.

Libra is set to launch in the first half of 2020.

Also, isn’t this sounding a bit 1984? They’re literally going to turn into Big Brother, with eyes everywhere and if Libra goes through, control of currency. It’s just a matter of time before they control basically every aspect about us. That’s a pretty dystopian future that we’re headed to, and much faster than I thought.