Details of Facebook's Cryptocurrency Libra Code
We will share with you the details of the name of the crypto currency project, the type of crypto currency, the usage areas and the developer team, whose White Paper will be published on June 18th.
On June 18, Facebook prepared to publish the White Paper of the crypto money and shared the details of this lash code named Libra. Nevertheless, information about the crypto currency, which is expected to be released later this month, is rather limited.
The project, led by David Marcus, leader of the Facebook Blockchain team, can lead to changes in payments and e-commerce within the social network. It can also make free money transfers between family members or friends on the platform.
Likewise, purchases in the Marketplace, subscriptions on the platform, and tips to content producers can be made with this new crypto currency. Furthermore, Facebook's crypto currency payments are likely to convert into new data. Thus, which target audience buys what can be more clearly defined, advertising tools can be arranged according to this data.
In fact, there is not much known detail about Facebook's crypto currency project. However, there is some information about the name of the project, the type of crypto money, its use and the developer team. As June 18 approaches, let's look at this information one last time.
The name of the project is referred to as the Libra code name, which is thought to refer to LIBOR, the abbreviation of the interbank interest rate applied in London. Facebook, which established a company called Libra Networks in Switzerland for financial services, may have designed the term LIBOR, which is used among banks, as Libra to address end users.
Facebook is working on a cryptocurrency exchange or payment process is not affected by price fluctuations is aimed at a stable price policy. To do this, the company is talking to financial institutions to serve as collateral of $ 1 billion in international currency and low-risk government bonds to create a basket.
Please note that the crypto money can be sent free of charge through Facebook products, including Messenger and WhatsApp. Platform to sell the brands token token as a method of payment on Facebook accepts working on, crypto money to begin to use the bonus plans. The company also wants to design physical devices for ATMs.
The leader of Facebook's blockchain project is David Marcus, formerly executive of PayPal and former vice president of Facebook Messenger. The team includes Kevin Weil, former vice president of Instagram, and Sunita Parasuraman, Facebook's former corporate treasury director. The details of the project, managed in great secrecy on the Facebook campus, will be further clarified after 18 June.