Facebook shakes off the world banking system: Creates its digital currency called Books

Facebook reportedly launched its digital currency called Books, which would allow billions of users to make financial transactions across the globe in a movement expected to shake up the world banking system, writes Periscope.

Books are considered a means to connect as many people as lack access to traditional banking platforms. With about 2.4 billion people using Facebook each month, the Books could completely change the game, but they would be under constant supervision because of the privacy violations made by this giant company.

This digital currency would also give a major boost to Facebook benefits: analysts are saying that Books would become a great pre-creator for Zuckerberg.

The technology that would allow transactions through the Books would be available as a single app, just like the Facebook Midshipman and the Whatsapi RH by 2020. It would allow consumers to send money to each other just as they would pay for services and things offered on Facebook.

But many financial and privacy regulators have opposed this company's movement. Facebook endangers 5 billion fines by the U.S. Federal Trade Commission [For Trade] The FTC has opened an investigation in response to the Cambridge Analyticas scandal. /The Guardian/Periscope