Ladies and gentlemen of the jury, I fear the rumours may prove to be fact. It appears Facebook will be making an official announcement as to the launch of their cryptocurrency code name Libra.
The official announcement will come next week, rumours speculate the coin to be centralized pegged cryptocurrency, pegged to the value of multiple currencies.
It may not be as severe as we once all feared, hear me out.
The facebook coin "Libra" will be back by a consortium of top fortune 500 companies. This "Libra Association" will become the governing body of this new project. All business that would like to become part of the Association will be subject to a 10 million dollar buy-in. This buy-in money will be employed as the backing or cash in the bank for the Facebook stable coin.
The roster of benefactors includes Visa, Mastercard, PayPal and Uber.
With Large proven companies running the show behind the scenes, this new stable coin will only further adoption.
With over 2 Billion Facebook users, 2019 might be the year of adoption and 2020 will be absurd!
What do you guys think?
I know I'm excited for all those users coming into crypto.