Facebook and the Future of Money

“Combining Facebook’s digital platform with a digital currency is a seminal development, targeting roughly 1.7 billion people around the world who might use the platform.”

This is the basis of a new article by Sherif Youssef, doctoral researcher at the Bauman Institute, who today publishes an article in Discover Society entitled “Click here to buy a new currency: Facebook and the future of Money“.

In the article, Sherif assesses the significance of Facebook’s development of the ‘Libra’ coin – a blockchain-backed, ‘low-volatile’ global currency which aims to provide a new digital wallet across the Facebook platform. With companies such as Uber, Lyft, Spotify and Kiva supporting the move, the transition from modern material currencies and into the liquid modern world of digital finance appears to have finally arrived.

You can read Sherif’s article in full and for free by clicking here.

Sherif is an Organizational Theorist with a background in marketing and public policy. His research focuses on Hybrid organisations such as social enterprises in the emerging markets, which aims to address societal challenges while creating some financial revenues. He has a broader research interest looking at the economics of innovation, patient finance and economic growth.

Sherif’s doctoral thesis is entitled: ‘How do Social Enterprises emerge as a civic need within the emerging markets? Egypt as a case study’.