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Facebook recently announced their new Libra cryptocurrency, a stablecoin set to launch in 2020. Users will be able to transfer money between Facebook’s Messenger and WhatsApp applications. The Libra Association, headquartered in Switzerland, is a 28 member group of companies including Visa, PayPal, Andersen Horowitz, Ebay and others control Libra along with Facebook. While one of the hallmarks of cryptocurrency is the fact that it is decentralized, Libra is in fact very centralized. While Facebook is the major developer and initiator behind the project, they only have 1 representative and thus 1 vote as part of the Libra council.