For the CEO and founder of Facebook, the Libra crypto-money will facilitate e-commerce and payments on Facebook and should thus boost the social network’s advertising revenues.
On May 27th, at Facebook ‘s annual general meeting, a shareholder asked Mark Zuckerberg how Libra will financially benefit the company.
The Facebook boss said that the digital coin would facilitate payments on the social network and would naturally increase sales, especially with Facebook Shop.
If we can make commerce more efficient for businesses, if when they run an ad, if someone who clicks on that ad is now more likely to buy something, because they actually have a working method of payment, then it’s worth it for businesses,” he said.
Advertisers obtaining better results should then increase their advertising budget thanks to the clever bidding system used by Facebook, libra, leading to additional gains for the multinational.
I think there are a lot of opportunities with Libra to make the trading and payment process easier. And we will be able to participate ourselves in some of this value creation through higher prices in advertising if companies succeed in using these tools,” he explained.