The Reading / Listening - Libra Crypto-currency - Level 5

Facebook is expected to unveil details of an ambitious plan to create a new global crypto-currency. A white paper outlines the plan for the new global currency. It will be the social network site's entry into the lucrative financial services market. The currency is called Libra. It is aimed at the millions of people around the world who have no bank account. Libra will let people send and receive payments anywhere in the world with very low fees. The banking will be done online via Facebook-owned apps. The 2.7 billion users of Facebook and WhatsApp will have access to Libra.



Analysts say Libra is like the Bitcoin crypto-currency. A big difference is that Libra will be more stable. It will avoid the huge fluctuations in value that Bitcoin experiences. Libra will be backed up by a basket of major currencies, including the dollar. It will also have the backing of multi-national companies like Mastercard and PayPal. Libra could revitalize Facebook's fortunes. A finance company said: "We believe [Libra] may prove to be one of the most important initiatives in the history of the company, to unlock new engagement and [generate new] revenue streams."

Try the same news story at these levels:

    Libra Crypto-currency - Level 4 or  Libra Crypto-currency - Level 6

Sources
  • https://www.nytimes.com/2019/06/18/technology/how-libra-would-work-for-you.html
  • https://www.foxbusiness.com/markets/facebook-crypto-currency-launch-details
  • https://cointelegraph.com/news/facebook-releases-crypto-currency-white-paper-for-libra-currency


Make sure you try all of the online activities for this reading and listening - There are dictations, multiple choice, drag and drop activities, crosswords, hangman, flash cards, matching activities and a whole lot more. Please enjoy :-)



Phrase Matching

Paragraph 1

  1. unveil details of an
  2. create a new global
  3. A white paper outlines
  4. the lucrative financial
  5. send and receive payments
  6. very low
  7. The banking will be
  8. The 2.7 billion users
  1. the plan
  2. done online
  3. fees
  4. crypto-currency
  5. of Facebook
  6. anywhere in the world
  7. ambitious plan
  8. services market

Paragraph 2

  1. Libra will be
  2. It will avoid the huge fluctuations
  3. Libra will be backed up by a basket
  4. the backing of multi-
  5. Libra could revitalize
  6. We believe Libra may prove
  7. the most important
  8. generate new
  1. of major currencies
  2. Facebook's fortunes
  3. initiatives
  4. revenue streams
  5. to be one
  6. more stable
  7. national companies
  8. in value

Listening — Listen and fill in the gaps

Facebook is expected (1) ___________________ of an ambitious plan to create a new global crypto-currency. A white paper (2) ___________________ for the new global currency. It will be the social network site's entry (3) ___________________ financial services market. The currency is called Libra. It (4) ___________________ the millions of people around the world who have no bank account. Libra will let people send and receive payments anywhere in the world with (5) ___________________. The banking will be done online via Facebook-owned apps. The 2.7 billion users of Facebook and WhatsApp will (6) ___________________ Libra.

Analysts say Libra is like the Bitcoin crypto-currency. A big difference is that Libra will (7) ___________________. It will avoid the huge fluctuations in value that Bitcoin experiences. Libra will be backed up (8) ___________________ of major currencies, including the dollar. It will also have (9) ___________________ multi-national companies like Mastercard and PayPal. Libra could revitalize Facebook's fortunes. A finance company said: "We believe [Libra] may (10) ___________________ one of the most important initiatives (11) ___________________ of the company, to unlock new engagement and generate (12) ___________________."

Put a slash (/) where the spaces are

Facebookisexpectedtounveildetailsofanambitiousplantocreateanew
globalcrypto-currency.Awhitepaperoutlinestheplanforthenewglob
alcurrency.Itwillbethesocialnetworksite'sentryintothelucrativefinan
cialservicesmarket.ThecurrencyiscalledLibra.Itisaimedatthemillion
sofpeoplearoundtheworldwhohavenobankaccount.Librawillletpeopl
esendandreceivepaymentsanywhereintheworldwithverylowfees.Th
ebankingwillbedoneonlineviaFacebook-ownedapps.The2.7billionu
sersofFacebookandWhatsAppwillhaveaccesstoLibra.AnalystssayLib
raisliketheBitcoincrypto-currency.AbigdifferenceisthatLibrawillbem
orestable.ItwillavoidthehugefluctuationsinvaluethatBitcoinexperie
nces.Librawillbebackedupbyabasketofmajorcurrencies,includingth
edollar.Itwillalsohavethebackingofmulti-nationalcompanieslikeM
astercard,andPayPal.LibracouldrevitalizeFacebook'sfortunes.Afina
ncecompanysaid:"Webelieve[Libra]mayprovetobeoneofthemostim
portantinitiativesinthehistoryofthecompany,tounlocknewengagem
entand[generatenew]revenuestreams."

Student survey

Write five GOOD questions about this topic in the table. Do this in pairs. Each student must write the questions on his / her own paper. When you have finished, interview other students. Write down their answers.

(Please look at page 12 of the PDF to see a photocopiable example of this activity.)

Discussion — Write your own questions

STUDENT A’s QUESTIONS (Do not show these to student B)

(a) ________________

(b) ________________

(c) ________________

(d) ________________

(e) ________________

(f) ________________

(g) ________________

(h) ________________

STUDENT B’s QUESTIONS (Do not show these to student A)

(i) ________________

(j) ________________

(k) ________________

(l) ________________

(m) ________________

(n) ________________

(o) ________________

(p) ________________





Free writing

Write about this topic for 10 minutes. Comment on your partner’s paper.

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Answers

(Please check your answers against the article above.

Help Support This Web Site

  • Please consider helping Breaking News English.com

Sean Banville's Book

Thank You