The Reading / Listening - Libra Crypto-currency - Level 6

Facebook CEO Mark Zuckerberg is expected to unveil details of an ambitious plan for his company to create a new global crypto-currency. A white paper outlines a plan that is designed to create a new global currency. It will represent the entry of the social network site into the lucrative financial services market. The crypto-currency is called Libra. Facebook said it is aimed at the millions of people around the world who cannot get a bank account. Libra will allow people to send and receive payments anywhere in the world with minimal fees. The banking will be done online via the myriad of Facebook-owned apps. The 2.7 billion users of Facebook and WhatsApp will have access to the Libra crypto-currency.



Analysts say Libra has some similarities to the Bitcoin crypto-currency. However, a major difference is that Libra will be a more stable currency and will avoid the wild fluctuations in value that Bitcoin has experienced. Libra will be backed up by a basket of currencies, such as the dollar, euro and yen. It will also have the backing of major multi-national companies like Mastercard, PayPal, Spotify and Uber. The new crypto-currency could revitalize Facebook's fortunes. The finance company RBC Capital Markets 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 easier levels:

    Libra Crypto-currency - Level 4  or  Libra Crypto-currency - Level 5

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 :-)



Warm-ups

1. CRYPTO-CURRENCIES: Students walk around the class and talk to other students about crypto-currencies. Change partners often and share your findings.
2. CHAT: In pairs / groups, talk about these topics or words from the article. What will the article say about them? What can you say about these words and your life?
       Facebook / details / ambitious / plan / crypto-currency / financial services / fees /
       similarities / difference / fluctuations / currencies / fortunes / revenue streams
Have a chat about the topics you liked. Change topics and partners frequently.
3. DIGITAL: Students A strongly believe digital currencies are better than traditional currencies; Students B strongly believe the opposite.  Change partners again and talk about your conversations.
4. NEW BANKS: What would the good and bad things be about these companies starting their own crypto-currencies? Complete this table with your partner(s). Change partners often and share what you wrote.

 

Good Things

Bad Things

Facebook

 

 

McDonald's

 

 

Google

 

 

Sony

 

 

7-11

 

 

United Nations

 

 

MY e-BOOK
ESL resource book with copiable worksheets and handouts - 1,000 Ideas and Activities for Language Teachers / English teachers
See a sample

5. PLAN: Spend one minute writing down all of the different words you associate with the word "plan". Share your words with your partner(s) and talk about them. Together, put the words into different categories.
6. MONEY: Rank these with your partner. Put the best kinds of money at the top. Change partners often and share your rankings.

  • crypto-currency
  • PayPal
  • coins
  • debit cards
  • bank notes
  • Apple Pay
  • credit cards
  • cheques

 

Vocabulary

    Paragraph 1

      1. unveil a. Of a minimum amount, quantity, or degree.
      2. ambitious b. Money paid as part of a special transaction.
      3. lucrative c. Show or announce publicly for the first time.
      4. minimal d. A countless or extremely great number.
      5. fees e. A plan intended to satisfy high aspirations and therefore difficult to achieve.
      6. access f. Producing a great deal of profit.
      7. myriad g. The right or opportunity to use or benefit from something.

    Paragraph 2

      8. similarities h. An act or strategy intended to resolve a difficulty or improve a situation; a fresh approach to something.
      9. stable i. Things that are kind of the same.
      10. fluctuations j. Not likely to change or fail; firmly established.
      11. backing k. Put new life, energy and vitality into something.
      12. revitalize l. Support or help.
      13. prove m. An irregular rising and falling in number or amount.
      14. initiatives n. Show that something is true or real by evidence or argument.

 

Before reading / listening

1. TRUE / FALSE: Read the headline. Guess if 1-8 below are true (T) or false (F).

  1. Facebook's CEO has unveiled full details of a new crypto-currency.     T / F
  2. A blue paper will outline more details of the crypto-currency.     T / F
  3. The new crypto-currency will be called Virgo.     T / F
  4. The new crypto-currency will have very low fees.     T / F
  5. The article says the new crypto-currency has no similarities with Bitcoin. T / F
  6. The new crypto-currency will be backed by the dollar, euro and yen.     T / F
  7. A finance company said the crypto-currency could really help Facebook.  T / F
  8. The company said Facebook could create new ways of making money.    T / F

2. SYNONYM MATCH: Match the following synonyms from the article.

  1. unveil
  2. lucrative
  3. aimed
  4. minimal
  5. myriad
  6. similarities
  7. fluctuations
  8. backed
  9. revitalize
  10. initiatives
  1. boost
  2. great number
  3. targeted
  4. supported
  5. profitable
  6. parallels
  7. very little
  8. plans
  9. variations
  10. reveal

3. PHRASE MATCH: (Sometimes more than one choice is possible.)

  1. unveil details
  2. A white paper outlines
  3. the lucrative
  4. minimal
  5. done online via the myriad of
  6. a more stable
  7. avoid the wild
  8. backed up by a basket
  9. the backing of major
  10. generate new revenue
  1. financial services market
  2. of currencies
  3. Facebook-owned apps
  4. currency
  5. streams
  6. of an ambitious plan
  7. multi-national companies
  8. a plan
  9. fluctuations in value
  10. fees

Gap fill

Put these words into the spaces in the paragraph below.
myriad
account
outlines
fees
unveil
lucrative
entry
aimed

Facebook CEO Mark Zuckerberg is expected to (1) ____________ details of an ambitious plan for his company to create a new global crypto-currency. A white paper (2) ____________ a plan that is designed to create a new global currency. It will represent the (3) ____________ of the social network site into the (4) ____________ financial services market. The crypto-currency is called Libra. Facebook said it is (5) ____________ at the millions of people around the world who cannot get a bank (6) ____________. Libra will allow people to send and receive payments anywhere in the world with minimal (7) ____________. The banking will be done online via the (8) ____________ of Facebook-owned apps. The 2.7 billion users of Facebook and WhatsApp will have access to the Libra crypto-currency.

Put these words into the spaces in the paragraph below.
fortunes
stable
similarities
streams
backing
prove
major
basket

Analysts say Libra has some (9) ____________ to the Bitcoin crypto-currency. However, a (10) ____________ difference is that Libra will be a more (11) ____________ currency and will avoid the wild fluctuations in value that Bitcoin has experienced. Libra will be backed up by a (12) ____________ of currencies, such as the dollar, euro and yen. It will also have the (13) ____________ of major multi-national companies like Mastercard, PayPal, Spotify and Uber. The new crypto-currency could revitalize Facebook's (14) ____________. The finance company RBC Capital Markets said: "We believe [Libra] may (15) ____________ to be one of the most important initiatives in the history of the company, to unlock new engagement and [generate new] revenue (16) ____________."

Listening — Guess the answers. Listen to check.

1)  Facebook CEO Mark Zuckerberg is expected to unveil details of ______
     a.  an ambition plan
     b.  an ambitions plan
     c.  an ambitious plan
     d.  an ambitiously plan
2)  the entry of the social network site into the ______ services market
     a.  lucrative financial
     b.  laxative financial
     c.  lubricative financial
     d.  locative financial
3)  Libra will allow people to send and receive payments anywhere in the world with ______
     a.  mini mall fees
     b.  minimally fees
     c.  minimal fees
     d.  mean nominal fees
4)  The banking will be done online via the ______ Facebook-owned apps
     a.  myriad of
     b.  mirror ad of
     c.  mire add of
     d.  mirages of
5) 2.7 billion users of Facebook and WhatsApp will have ______ Libra crypto-currency
     a.  excess to the
     b.  access to the
     c.  recess to the
     d.  assess to the

6)  However, a major difference is that Libra will be ______ currency
     a.  amore stable
     b.  a moor stable
     c.  a more stable
     d.  an ore stable
7)  Libra will be backed up by a ______ currencies
     a.  bask get of
     b.  bar sketch of
     c.  barks get of
     d.  basket of
8)  The new crypto-currency could ______ fortunes
     a.  rev italicize Facebook's
     b.  revitalize Facebook's
     c.  leave idolize Facebook's
     d.  revivifies Facebook's
9)  We believe Libra may prove to be one of the most ______
     a.  important initiatives
     b.  importance initiatives
     c.  important initiative
     d.  importance initiatives
10)  in the history of the company, to unlock new engagement and generate new ______
     a.  revenue steams
     b.  revenue seams
     c.  revenue streams
     d.  revenues teams

Listening — Listen and fill in the gaps

Facebook CEO Mark Zuckerberg is (1) ___________________ details of an ambitious plan for his company to create a new global crypto-currency. A white paper outlines a plan that is (2) ___________________ a new global currency. It will represent the entry of the social network site (3) ___________________ financial services market. The crypto-currency is called Libra. Facebook said it (4) ___________________ the millions of people around the world who cannot get a bank account. Libra will allow people to send and receive payments anywhere in the world with minimal fees. The banking will be done online (5) ___________________ of Facebook-owned apps. The 2.7 billion users of Facebook and WhatsApp will (6) ___________________ the Libra crypto-currency.

Analysts say Libra has (7) ___________________ the Bitcoin crypto-currency. However, a major difference is that Libra will be a more stable currency and will avoid (8) ___________________ in value that Bitcoin has experienced. Libra will be backed up by a (9) ___________________, such as the dollar, euro and yen. It will also have the (10) ___________________ multi-national companies like Mastercard, PayPal, Spotify and Uber. The new crypto-currency could revitalize Facebook's fortunes. The finance company RBC Capital Markets said: "We believe [Libra] may (11) ___________________ one of the most important initiatives in the history of the company, to unlock new engagement and generate (12) ___________________."

Comprehension questions

  1. What kind of paper will outline the crypto-currency plan?
  2. What lucrative market did the article say Facebook is entering?
  3. What is the name of the new Facebook crypto-currency?
  4. How much will the fees be to use the crypto-currency?
  5. How many Facebook and WhatsApp users will have access to it?
  6. What did analysts say the Facebook crypto-currency is similar to?
  7. What did the article say the crypto-currency will avoid?
  8. What currencies will the crypto-currency be backed by?
  9. What music site is supporting the crypto-currency?
  10. What did a finance company say Facebook could generate?




Multiple choice quiz

1) What kind of paper will outline the crypto-currency plan?
a) a newspaper
b) a blue paper
c) a white paper
d) a blank paper
2) What lucrative market did the article say Facebook is entering?
a) financial services
b) currency exchange
c) investment banking
d) hedge funds
3) What is the name of the new Facebook crypto-currency?
a) Pisces
b) Scorpio
c) Virgo
d) Libra
4) How much will the fees be to use the crypto-currency?
a) fairly high
b) minimal
c) 10%
d) zero
5) How many Facebook and WhatsApp users will have access to it?
a) 2.6 billion
b) 2.8 billion
c) 2.7 billion
d) 2.5 billion

6) What did analysts say the Facebook crypto-currency is similar to?
a) cheques
b) Bitcoin
c) Apple Pay
d) credit cards
7) What did the article say the crypto-currency will avoid?
a) harmful small print
b) insane promotions
c) crazy fees
d) wild fluctuations in value
8) What currencies will the crypto-currency be backed by?
a) pound, euro and dollar
b) dollar, euro and yen
c) dollar, euro and yuan
d) pound, euro and Bitcoin
9) What music site is supporting the crypto-currency?
a) Spotify
b) Sony
c) iTunes
d) Amazon
10) What did a finance company say Facebook could generate?
a) floods of complaints
b) oceans of cash
c) communication channels
d) new revenue streams

Role play

Role  A – Cash
You think cash is the best form of payment. Tell the others three reasons why. Tell them what is wrong with their forms. Also, tell the others which is the worst of these forms (and why): crypto-currency, credit card or Apple Pay.

Role  B – Crypto-currency
You think crypto-currency is the best form of payment. Tell the others three reasons why. Tell them what is wrong with their forms. Also, tell the others which is the worst of these forms (and why): cash, credit card or Apple Pay.

Role  C – Credit card
You think credit card is the best form of payment. Tell the others three reasons why. Tell them what is wrong with their forms. Also, tell the others which is the worst of these forms (and why): crypto-currency, cash or Apple Pay.

Role  D – Apple Pay
You think Apple Pay is the best form of payment. Tell the others three reasons why. Tell them what is wrong with their forms. Also, tell the others which is the worst of these forms (and why): crypto-currency, credit card or cash.

After reading / listening

1. WORD SEARCH: Look in your dictionary / computer to find collocates, other meanings, information, synonyms … for the words...

'money'

  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • and 'currency'.

  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • ________________
  • • Share your findings with your partners.

    • Make questions using the words you found.

    • Ask your partner / group your questions.

    2. ARTICLE QUESTIONS: Look back at the article and write down some questions you would like to ask the class about the text.

    •Share your questions with other classmates / groups. •Ask your partner / group your questions.

    3. GAP FILL: In pairs / groups, compare your answers to this exercise. Check your answers. Talk about the words from the activity. Were they new, interesting, worth learning…?

    4. VOCABULARY: Circle any words you do not understand. In groups, pool unknown words and use dictionaries to find their meanings.

    5. TEST EACH OTHER: Look at the words below. With your partner, try to recall how they were used in the text:

    • some
    • major
    • wild
    • basket
    • fortunes
    • believe
    • details
    • entry
    • aimed
    • allow
    • fees
    • access




    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 - Facebook to launch a global crypto-currency

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

    1. What did you think when you read the headline?
    2. What images are in your mind when you hear the word 'money'?
    3. What do you know about crypto-currencies?
    4. Does the world need a global currency?
    5. What do you think of the currency of your country?
    6. Should social network sites be creating crypto-currencies?
    7. Would you trust Facebook with your financial details?
    8. Would you use Facebook's new Libra crypto-currency?
    9. How might Libra change people's lives?
    10. How happy are you with banking services?

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

    1. Did you like reading this article? Why/not?
    2. What do you think of when you hear the word 'currency'?
    3. What do you think about what you read?
    4. Do you use payment services like Apple Pay and PayPal?
    5. What do you know about Bitcoin?
    6. Are crypto-currencies better than cash?
    7. Will Libra "revitalize Facebook's fortunes"?
    8. What are the dangers of crypto-currencies?
    9. How sad would you be if we stopped using cash?
    10. What questions would you like to ask Mark Zuckerberg?

    Discussion — Write your own questions

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

    (a) ________________

    (b) ________________

    (c) ________________

    (d) ________________

    (e) ________________

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

    (f) ________________

    (g) ________________

    (h) ________________

    (i) ________________

    (j) ________________





    Language — Cloze (Gap-fill)

    Facebook CEO Mark Zuckerberg is expected to (1) ____ details of an ambitious plan for his company to create a new global crypto-currency. A white (2) ____ outlines a plan that is designed to create a new global currency. It will represent the (3) ____ of the social network site into the lucrative financial services market. The crypto-currency is called Libra. Facebook said it is aimed (4) ____ the millions of people around the world who cannot get a bank account. Libra will allow people to send and receive payments anywhere in the world with minimal (5) ____. The banking will be done online via the myriad of Facebook-owned apps. The 2.7 billion users of Facebook and WhatsApp will have (6) ____ to the Libra crypto-currency.

    Analysts say Libra has some similarities to the Bitcoin crypto-currency. However, a major difference is that Libra will be a more (7) ____ currency and will avoid the wild fluctuations in value that Bitcoin has experienced. Libra will be (8) ____ up by a (9) ____ of currencies, such as the dollar, euro and yen. It will also have the backing of major multi-national companies like Mastercard, PayPal, Spotify and Uber. The new crypto-currency could (10) ____ Facebook's fortunes. The finance company RBC Capital Markets said: "We believe [Libra] may (11) ____ to be one of the most important initiatives in the history of the company, to unlock new engagement and [generate new] revenue (12) ____."

    Which of these words go in the above text?

    1. (a)     veil     (b)     veiled     (c)     unveil     (d)     veiling    
    2. (a)     paper     (b)     magazine     (c)     journal     (d)     book    
    3. (a)     entry     (b)     enter     (c)     enters     (d)     entered    
    4. (a)     at     (b)     on     (c)     of     (d)     to    
    5. (a)     freeze     (b)     fees     (c)     feels     (d)     feeds    
    6. (a)     recess     (b)     excess     (c)     assess     (d)     access    
    7. (a)     staple     (b)     sable     (c)     stable     (d)     saddle    
    8. (a)     forwarded     (b)     fronted     (c)     sided     (d)     backed    
    9. (a)     basket     (b)     box     (c)     trolley     (d)     carton    
    10. (a)     revitalize     (b)     juvenile     (c)     juxtapose     (d)     tabulate    
    11. (a)     evidence     (b)     prove     (c)     witness     (d)     doubt    
    12. (a)     canals     (b)     channels     (c)     streams     (d)     brooks

    Spelling

    Paragraph 1

    1. Zuckerberg is expected to nuevil details
    2. an miaitbous plan for his company
    3. the cltariuve financial services market
    4. inimaml fees
    5. the rymiad of Facebook-owned apps
    6. have cecass to the Libra crypto-currency

    Paragraph 2

    1. Libra will be a more tabsle currency
    2. avoid the wild uftutalicnos in value
    3. evtrlaiize Facebook's fortunes
    4. The ianfnce company RBC Capital Markets
    5. one of the most important titiaiivnes
    6. generate new everune streams

    Put the text back together

    (...)  the entry of the social network site into the lucrative financial services market. The crypto-currency is
    (...)  get a bank account. Libra will allow people to send and receive payments anywhere
    (...)  a new global crypto-currency. A white paper outlines a plan that is designed to create a new global currency. It will represent
    (...)  difference is that Libra will be a more stable currency and will avoid the wild fluctuations in value that Bitcoin has
    (...)  in the world with minimal fees. The banking will be done online via the myriad of Facebook-owned
    (...)  apps. The 2.7 billion users of Facebook and WhatsApp will have access to the Libra crypto-currency.
    (...)  called Libra. Facebook said it is aimed at the millions of people around the world who cannot
    1  ) Facebook CEO Mark Zuckerberg is expected to unveil details of an ambitious plan for his company to create
    (...)  of major multi-national companies like Mastercard, PayPal, Spotify and Uber. The new crypto-currency could revitalize
    (...)  experienced. Libra will be backed up by a basket of currencies, such as the dollar, euro and yen. It will also have the backing
    (...)  Analysts say Libra has some similarities to the Bitcoin crypto-currency. However, a major
    (...)  Facebook's fortunes. The finance company RBC Capital Markets 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."

    Put the words in the right order

    1. of   an   details   Expected   ambitious   plan   .   to   unveil
    2. company   new   global   a   create   His   to   crypto-currency   .
    3. people   millions   Aimed   of   at   around   the   world   .
    4. anywhere   world   the   in   with   Payments   minimal   fees   .
    5. online   the   Done   of   myriad   via   Facebook-owned   apps   .
    6. a   be   will   more   Libra   stable   currency   .
    7. wild   in   Avoid   that   value   fluctuations   Bitcoin   experienced   .
    8. a   by   up   basket   Backed   of   currencies   .
    9. the   of   Have   companies   major   backing   like   Mastercard   .
    10. the   of   one   most   Be   important   initiatives   .

    Circle the correct word (20 pairs)

    Facebook CEO Mark Zuckerberg is expected to veil / unveil details of an ambitious / ambition plan for his company to create a new global crypto-currency. A white paper outlines / streamlines a plan that is designed to create a new global currency. It will represent the sentry / entry of the social network site into the lucrative / laxative financial services market. The crypto-currency is called Libra. Facebook said it is aimed / aims at the millions of people around the world whose / who cannot get a bank account. Libra will allow / allowance people to send and receive payments anywhere in the world with minimal pays / fees. The banking will be done online via the myriad of Facebook-owned apps. The 2.7 billion users of Facebook and WhatsApp will have access / excess to the Libra crypto-currency.

    Analysts say Libra has some stimulation / similarities to the Bitcoin crypto-currency. However, a majority / major difference is that Libra will be a more stable / staple currency and will avoid the wildly / wild fluctuations in value that Bitcoin has experienced. Libra will be backed up by a basket of currencies, such was / as the dollar, euro and yen. It will also have the backing / forwarding of major multi-national companies like Mastercard, PayPal, Spotify and Uber. The new crypto-currency could revitalize Facebook's fortunes / fortunate. The finance company RBC Capital Markets said: "We believe [Libra] may evidence / prove to be one of the most important initiatives in / on the history of the company, to unlock new engagement and [generate new] revenue canals / streams."

    Talk about the connection between each pair of words in italics, and why the correct word is correct.

    Insert the vowels (a, e, i, o, u)

    F_c_b__ k C E O M_r k Z_c k_r b_r g _s _x p_c t_d t_ _n v__ l d_t__ l s _f _n _m b_t___s p l_n f_r h_s c_m p_n y t_ c r__ t_ _ n_w g l_b_l c r y p t_- c_r r_n c y . A w h_t_ p_p_r __ t l_n_s _ p l_n t h_t _s d_s_g n_d t_ c r__ t_ _ n_w g l_b_l c_r r_n c y . I t w_l l r_p r_s_n t t h_ _n t r y _f t h_ s_c__ l n_t w_r k s_t_ _n t_ t h_ l_c r_t_v_ f_n_n c__ l s_r v_c_s m_r k_t . T h_ c r y p t_- c_r r_n c y _s c_l l_d L_b r_. F_c_b__ k s__ d _t _s __ m_d _t t h_ m_l l__ n s _f p__ p l_ _r__ n d t h_ w_r l d w h_ c_n n_t g_t _ b_n k _c c__ n t . L_b r_ w_l l _l l_w p__ p l_ t_ s_n d _n d r_c__ v_ p_y m_n t s _n y w h_r_ _n t h_ w_r l d w_t h m_n_m_l f__ s . T h_ b_n k_n g w_l l b_ d_n_ _n l_n_ v__ t h_ m y r__ d _f F_c_b__ k -_w n_d _p p s . T h_ 2 . 7 b_l l__ n _s_r s _f F_c_b__ k _n d W h_t s A p p w_l l h_v_ _c c_s s t_ t h_ L_b r_ c r y p t_- c_r r_n c y .

    A n_l y s t s s_y L_b r_ h_s s_m_ s_m_l_r_t__ s t_ t h_ B_t c__ n c r y p t_- c_r r_n c y . H_w_v_r , _ m_j_r d_f f_r_n c_ _s t h_t L_b r_ w_l l b_ _ m_r_ s t_b l_ c_r r_n c y _n d w_l l _v__ d t h_ w_l d f l_c t__ t__ n s _n v_l__ t h_t B_t c__ n h_s _x p_r__ n c_d . L_b r_ w_l l b_ b_c k_d _p b y _ b_s k_t _f c_r r_n c__ s , s_c h _s t h_ d_l l_r , __ r_ _n d y_n . I t w_l l _l s_ h_v_ t h_ b_c k_n g _f m_j_r m_l t_- n_t__ n_l c_m p_n__ s l_k_ M_s t_r c_r d , P_y P_l , S p_t_f y _n d U b_r . T h_ n_w c r y p t_- c_r r_n c y c__ l d r_v_t_l_z_ F_c_b__ k ' s f_r t_n_s . T h_ f_n_n c_ c_m p_n y R B C C_p_t_l M_r k_t s s__ d : " W_ b_l__ v_ [ L_b r_] m_y p r_v_ t_ b_ _n_ _f t h_ m_s t _m p_r t_n t _n_t__ t_v_s _n t h_ h_s t_r y _f t h_ c_m p_n y , t_ _n l_c k n_w _n g_g_m_n t _n d [ g_n_r_t_ n_w ] r_v_n__ s t r__ m s . "

    Punctuate the text and add capitals

    facebook ceo mark zuckerberg is expected to unveil details of an ambitious plan for his company to create a new global cryptocurrency a white paper outlines a plan that is designed to create a new global currency it will represent the entry of the social network site into the lucrative financial services market the cryptocurrency is called libra facebook said it is aimed at the millions of people around the world who cannot get a bank account libra will allow people to send and receive payments anywhere in the world with minimal fees the banking will be done online via the myriad of facebook owned apps the 27 billion users of facebook and whatsapp will have access to the libra cryptocurrency

    analysts say libra has some similarities to the bitcoin cryptocurrency however a major difference is that libra will be a more stable currency and will avoid the wild fluctuations in value that bitcoin has experienced libra will be backed up by a basket of currencies such as the dollar euro and yen it will also have the backing of major multinational companies like mastercard paypal spotify and uber the new cryptocurrency could revitalize facebooks fortunes the finance company rbc capital markets 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"

    Put a slash (/) where the spaces are

    FacebookCEOMarkZuckerbergisexpectedtounveildetailsofanambiti
    ousplanforhiscompanytocreateanewglobalcrypto-currency.Awhit
    epaperoutlinesaplanthatisdesignedtocreateanewglobalcurrency.It
    willrepresenttheentryofthesocialnetworksiteintothelucrativefinanci
    alservicesmarket.Thecrypto-currencyiscalledLibra.Facebooksaiditis
    aimedatthemillionsofpeoplearoundtheworldwhocannotgetabankac
    count.Librawillallowpeopletosendandreceivepaymentsanywhereint
    heworldwithminimalfees.Thebankingwillbedoneonlineviathemyriad
    ofFacebook-ownedapps.The2.7billionusersofFacebookandWhatsA
    ppwillhaveaccesstotheLibracrypto-currency.AnalystssayLibrahass
    omesimilaritiestotheBitcoincrypto-currency.However,amajordiffe
    renceisthatLibrawillbeamorestablecurrencyandwillavoidthewildfluc
    tuationsinvaluethatBitcoinhasexperienced.Librawillbebackedupbya
    basketofcurrencies,suchasthedollar,euroandyen.Itwillalsohavethe
    backingofmajormulti-nationalcompanieslikeMastercard,PayPal,Sp
    otifyandUber.Thenewcrypto-currencycouldrevitalizeFacebook'sfort
    unes.ThefinancecompanyRBCCapitalMarketssaid:"Webelieve[Libra
    ]mayprovetobeoneofthemostimportantinitiativesinthehistoryofthec
    ompany,tounlocknewengagementand[generatenew]revenuestrea
    ms."

    Free writing

    Write about crypto-currency for 10 minutes. Comment on your partner’s paper.

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    Academic writing

    Crypto-currencies are dangerous and will not last. Discuss.

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    Homework

    1. VOCABULARY EXTENSION: Choose several of the words from the text. Use a dictionary or Google's search field (or another search engine) to build up more associations / collocations of each word.
    2. INTERNET: Search the Internet and find out more about this news story. Share what you discover with your partner(s) in the next lesson.
    3. FACEBOOK: Make a poster about Facebook. Show your work to your classmates in the next lesson. Did you all have similar things?
    4. CRYPTO-CURRENCIES: Write a magazine article about crypto-currencies. Include imaginary interviews with people who are for and against this.
    Read what you wrote to your classmates in the next lesson. Write down any new words and expressions you hear from your partner(s).
    5. WHAT HAPPENED NEXT? Write a newspaper article about the next stage in this news story. Read what you wrote to your classmates in the next lesson. Give each other feedback on your articles.
    6. LETTER: Write a letter to an expert on crypto-currencies. Ask him/her three questions about them. Give him/her three of your opinions on them. Read your letter to your partner(s) in your next lesson. Your partner(s) will answer your questions.

    Answers

    (Please look at page 26 of the PDF to see a photocopiable example of this activity.)

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