Facebook & Cryptocurrency: Social-Media Giant Is Best Hope for Its Future

It would be a travesty if China, which has entered the fray, became the world’s leader in this global economic development.

The old adage about giving a dog a bad name certainly applies to Facebook these days. Politicians and pundits of every ideological stripe feel free to lash out at Mark Zuckerberg whenever he comes to Washington, even when his visit has nothing to do with Facebook.

This week, the Facebook-bashing bled into Zuckerberg’s testimony on Capitol Hill regarding his newest venture, Project Libra. This is the most ambitious venture yet by an American company into the cryptocurrency market, one that could raise the status and reputation of this revolution in financial transactions — and maybe prevent the future of that revolution from being dominated and controlled by China.

Cryptocurrencies such as Bitcoin, which is essentially digital cash exchanged on the Internet, gets lots of harsh criticism, some of it…