Karen Webster of PYMNTS.com writes that Facebook’s new global crypto-based payments system, dubbed Project Libra, is reminiscent of a failed initiative from a decade ago called Facebook Credits; she thinks that Project Libra will face a similar fate; creating a “big-bang innovation” like this one, where everything must change at once, is no longer considered realistic in the world of payments; consumers are in charge so merchants will follow the consumers lead and consumers have already said they trust their banks and card issuers as well as intermediaries like Amazon, PayPal and Alipay; Websters writes, “Great ideas that are too late in the cycle simply won’t ignite, because change creates friction – particularly when that change doesn’t solve any problem for a consumer or business.” Source.