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German Society is not Ready for Facebook’s Libra


According to a poll released by a German financial union, nearly 71% of the German population is sceptical of Facebook’s Libra.

Facebook recently announced its cryptocurrency project Libra, and though not yet released, or even tested, the announcement has had a major impact on the cryptocurrency market. It drew the attention of regulators worldwide, with more and more governments questioning the safety of the cryptocurrency market as a whole, and Libra in particular. The speculation has had an effect on prices, with the value of crypto tokens fluctuating wildly.

The poll further reveals that only 12% embrace the initiative. 

Overall, very few even had knowledge about the project, with only 1 out of 2093 surveyed aware of the announcement. 17% responded that they didn’t know whether to be wary or excited, but 52% were certain that Facebook is becoming increasingly dangerous to society. In fact, 26% believe that its continued growth will have a negative impact.


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