What is Facebook's Crypto Money Libra? Libra is a digital currency that enables millions of people who cannot benefit from banking services to perform these services through their Facebook account.
Libra is a digital currency that enables millions of people who cannot benefit from banking services to perform these services through their Facebook account. After months of speculation, Facebook shared the details of the crypto money it will release this morning. In this article, we shared the details of Libra whitepaper about Facebook crypto money project. Facebook Money Libra is basically positioned as a blockchain-based cryptocurrency.
Content Guide
What is Libra?
What is Libra Coin?
Calibra Facebook
Is Libra Released?
When will Libra be released?
Which Country is Libra?
Libra Which Exchange
What is Libra?
According to the statements, crypto money called "Libra" will be used by millions of people using social media platforms such as Messenger, WhatsApp and Instagram starting from next year. So, what do you need to know about Libra Coin?
If Libra is adopted by users and companies, it can provide great convenience in online payment. Facebook probably plans to sell items via Libra Coin via Instagram and WhatsApp. However, other websites will be able to use crypto money for e-commerce.
What is Libra Coin?
In addition, Libra Coin can provide ease of use in storage and transfer transactions without paying high fees especially in developing countries, which are weak in banking infrastructure. Therefore, in international payments, Libra may be a more cost-effective way than currently available methods.
Libra transactions will be recorded on Blockchain as well as Bitcoin and other cryptocurrencies. So yes, it has some similarities with the technology used by Bitcoin and Bitcoin.
However, there are also some differences. For example, the price of Libra will be lower than the Bitcoin price. Because Libra will be released as stablecoin fixed to a value.
In addition, all developers can reach Bitcoin Blockchain and make various improvements. However, in order to make improvements in Libra, the developers have to get permission from Facebook or their partners. This may vary.
Calibra Facebook
Facebook installs the Calibra wallet under a separate company and assures you not to share data with Facebook and Instagram, unless the user allows it. So, in theory, Calibra data will not be combined with social media channels. However, if the user wants to combine social media platforms with the wallet, then the data can be integrated.
Facebook and its partners support Libra in traditional currencies and reassure that crypto money can always be withdrawn in cash. The daily value of Libra is fixed to the average value of a basket, including the US dollar, Sterling, Euro and Swiss Franc.
Is Libra Released?
No matter how quickly Facebook wants to release cryptocurrency Libra, the process is still ongoing due to a number of legal hurdles. Libra Coin has not been released yet.
