What is Facebook cryptocurrency 'Libra'
On 18 June 2019 Facebook announced that they are going to launch Cryptocurrency name 'Libra'
The project of libra currency and transaction are to be managed by, a genneva based entity having various founding partners that are:-
1.Payments: MasterCard,PayPal,payU,Visa mercado pago,stripe.
2.Telecommunication: Vodafone group,lliad.
3.Technology and market place: Facebook/calibra,Uber, Spotify, eBay,booking holdings,farfetch,Lyft,
4.Non-profit and academic institution: creative distruction lab,kiva,woman's world banks, mercy corps.
5.Blockchain: bisontrail, xapo holdings LTD,, coinbased.
6.Venture capital: Union square venture,Thrive capital,ribbit capital, Adreessen horowitz, breakthrough initiative.
SO WHAT IS LIBRA.
A report is published by libra association and according to report the main aim of libra "is to
Enable a simple global currency and financial infrastructure that empowers billions of people"
The main reason behind is that there are 1.7 billions of adult are still outside the organized financial system . Despite billions of people having mobile phone and internet Access.
So libra is set as the solution.
This includes global financial inclusion.
The report also says that
" Moving money around globally should be as easy and cost effective and even more safe and secure that sending text and message or sharing photos, no matters where you live, what you do, or how much you earn".
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" Moving money around globally should be as easy and cost effective and even more safe and secure that sending text and message or sharing photos, no matters where you live, what you do, or how much you earn".
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That's pretty great for brief knowledge. But what about origin and all.
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