Facebook’s recently announced cryptocurrency pilot, Libra, claims it will “transform the global economy.”
The company hopes that anyone would be able to send Libra through platforms like Facebook messenger and WhatsApp to act as an intermediary for transferring traditional currencies. The ultimate goal is to have this currency accepted as a (general) form of payment. And other financial services will be built on top of its blockchain-based network, called the Libra Blockchain, a “proof of authority" permissioned blockchain system.
See: https://www.americanbanker.com/opinion/regulating-libras-a-waste-of-time