Facebook has taken a leading role in the development of a new, asset backed and stabilised cryptocurrency based on a version of blockchain technology, using a new programming language called Move. With an independent foundation managing the currency, and separation from the company operating the digital wallet, Facebook aims to manage perceptions of privacy and power but Libra will be integral to Facebooks strategy to move deeper into e-commerce. The plan will face significant scrutiny from global regulators and user trust will be critical to success.