--- title: "Expert: Facebook Is Trying to Become an Independent Country" description: "Facebook's cryptocurrency could give the company even more sway and influence — perhaps even turn them into a virtual nation according to Jennifer Grygiel." date: "2019-06-19" modified: "2019-06-19" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/expert-facebook-independent-country" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "cryptocurrency" - "facebook" - "mark zuckerberg" - "the digest" --- # Expert: Facebook Is Trying to Become an Independent Country ![Facebook's cryptocurrency could give the company even more sway and influence — perhaps even turn them into a virtual nation according to Jennifer Grygiel.]() *\Image: Pixabay/Victor Tangermann\* ## Pop Country Facebook [just announced]() details of its upcoming cryptocurrency, the Libra. The goal is to help make the trade of goods and services for its billions of users easier, but that could give the company more global influence than ever before — and perhaps even turn the company into a virtual nation. "In my view as a social media researcher and educator, Facebook CEO Mark Zuckerberg is clearly seeking to give his company even more political power on a global scale, despite the potential dangers to society at large," wrote Jennifer Grygiel, a communications professor at Syracuse University, in a [new essay]() for *The Conversation. "*In a sense, he is declaring that he wants Facebook to become a virtual nation, populated by users, powered by a self-contained economy, and headed by a CEO — Zuckerberg himself — who is not even accountable to his shareholders." ## Wrecking the Financial System We've seen that Facebook has had significant amounts of influence over public opinion — and even [election outcomes](). So it's time to scrutinize Facebook's every move, Grygiel argues. "I don’t believe Facebook should be allowed to wreck the global financial system like it has, as many see it, wrecked global communications," Grygiel wrote. "In my opinion, Libra’s planned launch in 2020 does not allow enough time to fully vet this technology and its risks." **READ MORE:** [With cryptocurrency launch, Facebook sets its path toward becoming an independent nation]() \[*The Conversation*\] **More on Facebook's cryptocurrency:** *[With Near-Infinite Resources, Facebook Launches a Cryptocurrency]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()