Facebook is planning to launch a cryptocurrency of it own which it hopes will “transform the global economy.”

The currency - called Libra, is hoped to be launched next year and will be managed by a group of 28 companies including Uber, Visa, Spotify, Vodafone, and PayPal.

But how will it work and can Facebook get past recent privacy issues?

Andy O’Donoghue joins Gavin McLoughlin in studio to discuss the new cryptocurrency and why Facebook has decided to launch now.