The CEO of the social media giant, Facebook, Mark Zuckerberg, in a shareholder meeting explained how Libra crypto project would bring more ad revenue to their company. China, on the other hand, published a book addressing the challenges that Libra poses, arguing it could become the future of world currency. When asked about how Libra would help Facebook make more revenue in the shareholder meeting, Zuckerberg responded by going into Libra’s potential impact on e-commerce on the social media company, and its potential impact on advertising revenue.
“Facebook does not charge a set price for ads and instead works with a bidding system.”
The social media giant Facebook’s CEO Mark Zuckerberg said that Facebook does not charge a set price for ads and instead works with a bidding system, where every business trying to advertise will bid to compete for ad space. According to Zuckerberg, the system allows them to get the “lowest possible price.” The advertising on Facebook becomes more worthwhile for businesses, which could see them bid higher on ads and increase overall ad prices. This would effectively boost Facebook’s 0s advertising revenue. Mark Zuckerberg also emphasized other advantages of Libra, pointing out the payments infrastructure “hasn’t been updated in a very long time.”
Chinese official thinks Libra has the potential to become the future of world currency.
The Central Party School of China published a book to educate government officials on digital currency and propose policy measures to deal with emerging challenges like the Libra project. Experts claim that the Libra project is an excellent example of a public-private partnership and has the potential to become the future of world currency. The People’s Bank of China has been developing its own digital currency dubbed as DC/EP from the last five years or so and is now closing in to issue it. The central bank of China has not revealed the official date launch, but it is expected to launch soon. Chinese officials argue that Libra could come in the way of their attempt to increase the influence of the yuan.