know everything about Facebook cryptocurrency Libra
The 21st century is the era of cryptocurrency, in this context Facebook has just created Libra. The first cryptocurrency of Facebook that will allow users to send money via WhatsApp or Massenger so in this article we will try to present everything that you must know about Libra, So let’s start .
In 2019, in developing or underdeveloped countries basic financial services remain inaccessible to the majority of inhabitants, in addition to the global scale 50% of adults do not have an active bank account, because of this problem which affects a large population in the world, Facebook launches Libra its own currency that will solve the problem.
What is Libra cryptocurrency ?
Finally and after several months of expectations, Facebook officially announced, Tuesday, June 18, the launch, expected by mid-2020, a cryptocurrency Libra. More precisely Facebook has just created a new subsidiary Calibra.
Calibra’s new Facebook subsidiary aims to deliver financial services to users for the purpose of accessing and using Libra services. for this Calibra will launch a digital portfolio for Libra based on Blockchain technology.
The Calibra portfolio will be available as an application directly integrated with Messenger and WhatsApp or independent. The purpose of the wallet and send, store or expense of the Libra.
The Big Cryptocurrency Project Libra of facebook is supported by several companies like Lyft, Visa, Mastercard, Spotify which are part of the Libra Association and in addition they have invested millions of dollars in the cryptocurrency project. The members of the association have several advantages and they have the right to vote on the control and governance of Libra.
At present, the four giants of technology Google, Apple, Amazon and Microsoft, not accepted to support the project of Facebook, Similarly and thanks to problems related to logistics or regulations the banks not accepted to to join Facebook.
What will Libra be used for?
After the launch of Libra the currency of Facebook that will bring a revolution in the financial field with these advantages, it will be possible to buy Libras in cash and also online with any type of currency. But until now no one knows how much a Libra will cost.
Among the benefits of libra is that Internet users can use this currency to buy different services on the net, while the Libra cryptocurrency project already involving companies like Uber, eBay or Booking and will be possible to use libra on these platform.
Facebook and thanks to Libra will allow these users to transfer money with a smartphone in an easy way.
Libra Security ?
In order to protect the money and user data Facebook has implemented several security measures and anti-fraud process. In addition, systems will detect and prevent fraud attempts proactively.
The success of the new Libra currency could create a revolution in the finance industry by removing the need for intermediaries to pay platforms.