The head of Facebook's controversial new cryptocurrency project explains why you don't need to trust Facebook for it to work

REUTERS/Erin ScottDavid Marcus, head of Facebook's Calibra (digital wallet service), testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on "Examining Facebook's Proposed Digital Currency and Data Privacy Considerations" on Capitol Hill in Washington, U.S., July 16, 2019.David Marcus, the Facebook executive heading the firm's cryptocurrency efforts, says that the system is designed in such a way that it doesn't matter whether or not you trust Facebook.That's because it's the Libra Association, which was formalized on October 14, that's tasked with governing the network, not Facebook.He also reiterated that the currency will not launch until it meets the proper regulations and the association has had the chance to address lawmakers' concerns.The comments come as Facebook's

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