Since Facebook announced its new Libra currency and mobile payments scheme, the global reaction has been very mixed. Libra is not truly a cryptocurrency though it will use blockchain. It will be pegged to a reserve currency, which cryptocurrencies are not. Libra will “potentially” be governed by an association independent of Facebook, though that association remains non-binding and sketchy at this point. Potential regulatory issues abound around the World, and Facebook is currently not viewed very favorably by many governments. But most interesting to me, Libra appears to be modeled after Kenya’s M-Pesa mobile payments system, the world’s leading mobile payments system, invented by mobile carrier Safaricom. Then I asked myself if Facebook, knowing that it needs to move away from selling personal data, has seized on Safaricom’s M-Pesa as its new revenue model.
The formation of the University of British Columbia (UBC), Faculty of Management chapter of Enactus occurred only three months ago, under the guidance of Dean Roger Sugden, but the Enactus student leadership team has already attracted nearly two dozen members, all of whom, including the leadership will return next year, to build the organization for handoff to future Faculty of Management students. Meanwhile, many of our current Enactus members will be off to destinations around the World for the summer.