Report: Only 2% of Americans Trust Libra

Only 2% of Americans trust Libra, as reported in the survey conducted by CivicScience. The survey was carried out with 1,799 U.S citizens and the findings indicated the lack of trust in Facebook and understanding in cryptocurrencies.

Interest in Facebook's Libra

Courtesy of CivicScience

As shown above, only 2% of the respondents were very interested in Libra, contrary to the vast majority of 86% who do not trust Libra at all. The report stated that millennials are more eager to use Facebook's Libra and its digital wallet – Calibra.

Trust towards Libra Compared to Bitcoin and Other Cryptocurrencies

Courtesy of CivicScience

When compared to the trust towards Libra against other cryptocurrencies such as Bitcoin, only 2% of the respondents trust Libra. This can be partly explained by the notorious record of Facebook in privacy protection, where 77% of respondents do not trust Facebook at all, as shown below. 

How much do you trust Facebook in data protection?

Courtesy of CivicScience

The survey results indicate that the Americans are doubtful on Facebook's Libra after the two hearings last week. Donald Trump previously criticized Facebook's Libra with little standing or dependability and states that the USD is the only real currency in the U.S.

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