Facebook Cryptocurrency Libra - All about Libra

libra

Facebook Announce Libra will launch next year- Everybody needs to know

       Facebook brought a new update to the market. Facebook CEO Mark Zuckerberg said that he will launch a global cryptocurrency which will be known as the Libra. Although Facebook has not yet fully disclosed information about it, as far as it is known, it is described below:

facebook-libra

       Finally, Facebook is planning on blockchain. According to Facebook's Executive, Libra will be launch in the market in the middle of next year 2020. It will not be fluctuation like Bitcoin because it will be controlled by an organization known as the Libra Association, and for this reason libra will be considered separately from others cryptocurrency like bitcoin, ethereum, litecoin etc. Facebook has said that where Banking Facility is not so good, it will be launched specifically from there, then gradually spread to the whole world. It can be used for money transfers, things for business purposes and any kind of financial work. People can payment online and offline by using Libra anytime and its fees will be very low. 

Facebook Cryptocurrency Libra

         The company has formed the nonprofit Libra Association with twenty seven other partners to supervise libra and it's development but when it will launch in 2020 it may increase more than 100 partners. The partners are PayPal, Visa, mastercard, ebay, coinbase, stripe, spotify, vodafone, Thrive Capital and more other. An interview has revealed that its headquarters will be in Geneva, Switzerland. Facebook is launching a subsidiary called Calibre, which will help build Libra Blockchain. When it first launches, it will be powered by the only Facebook messenger and WhatsApp and later it will be used in different operating systems and software. Libra’s mission is to enable a simple global currency and financial infrastructure that empowers billions of people.

Conclusion

                   Libra Goal: A stable currency built on a secure and stable open-source blockchain, backed by a reserve of real assets, and governed by an independent association.



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