Survey: Facebook's Users Will Not Use Libra
Main page News, Facebook, Stablecoins

According to a recent survey carried out by the financial services company Jefferies among over 600 participants, Facebook users do not plan to use the social network's cryptocurrency.

According to the results of the study, 4 out of 5 respondents say it is "unlikely" or "very unlikely" that they will buy and use Libra.

The participants in the study have alluded to the lack of confidence in the social network as the main reason (45%) why they would not use the new cryptocurrency even though Facebook has already confirmed it will not have access to any transaction data.

Around 40% of the respondents also say they already use a mobile payment wallet, so, in their opinion, there is no point in switching to a new service.

The results of the survey are pretty negative for Facebook's project, since Libra needs to be widely used by the social network users to achieve its goals and replace existing means of payment.

The participants in the study who actually plan to use Facebook's cryptocurrency say they will use it to buy goods and/or services (12%), to send money to friends or family (14%) or both things (15%).

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