Facebook wants to issue id-cards – using its cryptocurrency libra

Facebook wants to issue id-cards – using its own cryptocurrency libra

Image source: Shutterstock / Facebook

Teodor Stig-Matz

teodor.matz@trijo.co

With libra, Facebook wants to create a "new standard for identification".

Last week, Facebook attracted a lot of attention when they revealed that they will release their cryptocurrency libra next year.

What many missed then, but potentially could be as important as the cryptocurrency itself, is a couple of lines in libra’s white paper, which states that one of the goals of the project is to create a new standard for digital identification, Coindesk reports.

Wants to create a new standard for identification

“One goal of the Libra Association is to develop and promote an open identity standard”, reads libras white paper.

If this means that we will be able to use Facebook to identify ourselves in the future remains to be seen. But given that Facebook has over two billion users, they should have as good a chance as anyone else to implement such a large project, Coindesk reports.

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