Facebook has unveiled plans for its long-awaited cryptocurrency initiative, which is seen as one of the mainstream applications for the digital assets. The company is leading a consortium of nearly 30 founding organizations to create a secure, blockchain-based payment system called Libra. Facebook says the goal is for developers to create services for consumers to send money around the world as easily as sending a text, and for free. So, what will the implications of Libra be on banks around the world? Preston Byrne at Partner at Bryne & Storm, and Katherine Wu, Crypto Researcher spoke to Cheddar about Facebook's cryptocurrency ambitions.