Survey Reveals That “Libra” Might Not Be Welcomed Too Warmly as Expected

Following the announcement of its launch, investors, businessman and the company itself had high hopes of reading Libra. Amidst the privacy scandal and lawmakers ready to pull Instagram and WhatsApp from Facebook, everyone was hoping Libra will be the golden ticket of revival for Facebook. However, recent survey investigating the popularity of Libra and the amount of trust, most buyers are putting into it, has revealed some shocking information.

According to the survey conducted by CivicScience, only five percent of the adults in the US showed any interest in the launch and value of Libra. On the contract, almost 86 percent of the individual straight away denied any interest in the Libra cryptocurrency whereas, 10 percent of the users were unsure about the situation to pass any judgment for that matter. What’s even more shocking is the fact that most of the individual who has shown any interest in Libra are youngsters with age group falling between 18-24. On asking, if the individual trusted the whole system of online cryptocurrency launched by Facebook, 77% of the individual claimed that they don’t trust Facebook at all and their reason behind not trusting Libra is in fact, Facebook. To further add fuel to the fire, 21% of people said they trust Facebook a little whereas 2% said they don’t trust Facebook at all.

Experts are saying, that Libra and Facebook are a prime example of a bad reputation, the main reason behind most of the people denying to trust the validity of Libra is because of the recent data breach scandal of Facebook. Also, considering that Libra was designed to be a mainstream cryptocurrency that was supposed to surpass the success of other cryptocurrencies like bitcoin, results have so far only made things difficult for Facebook. To evaluate the comparison if people trusted Libra more than Bitcoin, 40% of respondents said they have less faith in Libra as compared to the cryptocurrency giant bitcoin. 20% said they trusted bitcoin and Libra almost the same whereas, only 2% said they trusted Libra more than bitcoin. So, far the results have not been favorable and tech gurus are saying that this launch might be direct on war call from the social media king to the cryptocurrency which means that, this can be fragile and very daunting to handle for Facebook considering it is already going through rough times.

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