Using Machine Learning: Consumer Attitudes Toward the New Facebook Currency

As digital currencies continue to take center stage in the world’s financial system, IT behemoths are more interested than ever in how they can alter established payment methods. Facebook, a popular social media network, developed its own cryptocurrency called Libra as one of these initiatives with the goal of revolutionizing how people exchange and hold value online. This study uses cutting-edge machine learning techniques to assess a dataset of user emotions in order to examine consumer attitudes around the launch of this new Facebook money. A survey-based methodology was used to collect information from a simple random sample of Palestinian consumers (302 responses). The results of this study suggested that, in some situations, consumers have favorable attitudes about the new Facebook currency, which we covered in more depth throughout this paper. Policymakers, financial institutions, and technology businesses can learn important lessons from this study's findings about consumer attitudes about digital currencies and their potential effects on conventional financial systems. Understanding the elements that influence consumer attitudes of a digital currency within the context of a well-known social media site like Facebook may help to build successful implementation methods, fix issues, and promote universal adoption.