Ok. That post title is a little over the top, but it's still somewhat true.

So basically, it's a given fact that Facebook has more users than the United States has citizens.

And the United States is currently one of the(if not the) most powerful countries on the entire planet.

The universally accepted exchange currency is the United States Dollar. All exchanges on the international market are to be made in dollars. Even the world Bank gives out loans in Dollars. It's more or less the only currency that is this versatile.

So imagine Facebook, with more than a billion users creating and giving mass availability to this their new cryptocurrency. And letting all of it's over one billion users have access to it. Now you get why the US is afraid of Libra, and is trying it's very best to stop the project from coming to life.

So what is Libra?

For you guys out there who have somehow managed to miss all the talk about Facebook's new cryptocurrency, Libra is a stablecoin that is being developed by Facebook Inc.

This post is sponsored by Changelly. Let's get started.

Here's some back story on the coin.

After a pretty rough 2018 for Facebook, recording the biggest data breach in history, Facebook's CEO, Mark Zuckerberg decided that his new year's resolution would be to explore the negative and positive sides of cryptocurrencies. So they decided to create a blockchain division, and create a stable coin under that division that would be used to easily send money to and from WhatsApp users.

The stablecoin(henceforth called Libra) was to be focused in India, with the country having over 400 million WhatsApp users.

The coin is planned for a 2020 launch, and we might see that happen later this year, should all the controversy clear out.

Libra also hopes to reach out to the unbanked in the world. The stats are very, very convincing for Libra's project. Let's look at some of these stats.

• As at 2017, more than 2 billion people didn't have a bank account. With the population increase in the world since then ,that number doesn't look like it would be getting better any time soon.
• More than 20% of unbanked adults receive wages or government transfers in cash, and many people in developing countries pay bills and school fees in cash.
• Women make up a little over half (just over 55%) of unbanked people worldwide.

Now that we have those stats on ground, let's see how Facebook plans on helping those unbanked people.

As it was aptly put in the white paper, 

“The advent of the internet and mobile broadband has empowered billions of people globally to have access to the world’s knowledge and information, high-fidelity communications, and a wide range of lower-cost, more convenient services. These services are now accessible using a $40 smartphone from almost anywhere in the world.”

There are equally some really good stats to back up those numbers. Let's see some of them:

• The number of mobile phone users in the year 2018 was 5.135 billion, up 4 percent year-on-year from 2017.
• The number of internet users in 2018 was 4.021 billion, up 7 percent year-on-year.
• The number of social media users in 2018 was 3.196 billion, up 13 percent year-on-year.
• 4 billion of the world’s internet users spent a combined one billion years online in 2018. Yup, that's one billion years with a "B".
• Facebook alone has 2.38 billion monthly active users.
• India is Facebook's largest market, having over 270 million Facebook users alone, with the US coming in second place at 210illion users.

This is how Facebook plans to use Libra to it's fullest capacity. They plan on leveraging all those 2.38 billion users and equipping them with the power to manage their finances adequately, while also making cryptocurrency ownership more mainstream. In comparison, only 2.6 million people own Bitcoin. If Libra can achieve their goal, 2.38 billion people would own cryptocurrency.

That's Libra in a nutshell! It seems like a very amazing project that would change the world for the better, if its done right.

Would you own Libra when it comes out? Let me know down below.

Also, thank you for 984 followers! Keep 'em coming!