Libra

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Libra coin is a stablecoin announced by Facebook in 2019 and slated for release in 2020. Rumours had been forming for months before the announcement, with multiple media outlets reporting that Facebook was carefully examining how to design a cryptocurrency solution in the remittances space. 

The announcement resulted in the cryptocommunity criticizing the project, of which only some code has been released. A majority of the criticism was related to the fact that it would give Facebook, which has drawn a lot of flak for data collection and privacy related issues, more influence. Facebook has tried to alleviate this issue by forming a Libra Association, which is composed of 28 members who will act as validators on the network.

The Libra network is a permissioned one and utilizes a stablecoin pegged to fiat currencies. Facebook has said that the tokens are backed by a basket of assets like currencies and US Treasury securities in order to resist volatility. 

The criticism levied against Libra is that it is not decentralized, with the Libra Association essentially acting as a central bank. Regulators in the United States too have shown extreme reservation about the effort, usually citing privacy, financial implications, consumer protection and an increase in Facebook’s influence as reasons. Other nations have had similar reactions to the announcement.

Development still appears to be in the early stages, despite the imminent launch in 2020. Facebook has released a whitepaper for Libra, though very little code has been released. No mining will take place and the plan is to move to a Proof-of-Stake system in 5 years.


Facebook Libra Might Lose Some Of Its "Friends" As It Faces Regulation Issues

18 hours ago 1 minute read CryptoChartWizard91 $3.42 tipped

It seems that there is trouble in paradise as the confidence in Facebook's upcoming stable coin, Libra, starts to erode. Two of Libra’s early backers and founding members have already held some discussions about their “right next steps” to take in l...

Everything You Need to Know About Facebook Cryptocurrency

3 days ago 5 minute read MintDice $0.39 tipped

Fifteen years ago when Mark Zuckerberg and Eduardo Saverin created what would become Facebook, it would have been difficult to picture just how powerful that project would eventually become. When Facebook opened its doors to the public in 2006 and be...

US Delegation to visit Switzerland to discuss Libra

6 days ago 1 minute read CryptoTapas.com $0.26 tipped

Designated US House of Representatives group is scheduled to make a trip to Switzerland to discuss Cryptocurrencies, specifically, Facebook's Libra. Repercussions of the Facebook's Libra and its potential to proliferate the fiat currency space are am...

BINANCE'S CLAIMS VENUS STABLECOIN PROJECT to assist FACEBOOK'S LIBRA

11 hours ago 1 minute read Originalcryptoz $0.17 tipped

Binance exchange has announced its Venus project which many deeming as a competitiveness of Facebook's cryptolibra. ButCEO of binance thinks otherwise.     VENUS, THE REGIONAL LIBRA. According to information, Binance helps to  develop of coin and m...

Facebook cryptocurrency libra facing pressure from watchdogs

1 day ago 1 minute read CryptoArgha $0.18 tipped

Early this year social media giant facebook announced they will launch their own cryptocurrency called libra that will replace almost all financial payment method and will be backed and controlled by facebook itself But, one thing was unclear from th...

Bitcoin News 08/23/2019 by dobobs

1 day ago 5 minute read dobobs $0.03 tipped

DOW RECOILS AFTER CHINA TOSSES A MATCH ON GASOLINE-SOAKED TRADE WAR [ccn.com] The Dow tumbled more than 130 points at the opening bell. | Source: Yahoo Finance Stock futures recoiled in pre-market trading after China dropped a bomb on already-tense...

Libra Against the World; The World Against Libra

3 days ago 1 minute read Richard M Adrian $0.17 tipped

The Struggle to Eliminate Libra Libra is facing an arms race against it from all sides of the Fintech universe. The heated debate surrounding the coin has not been received well by state authorities, privacy experts, the crypto community, central ban...

Why Libra is getting so much attention?

3 days ago 1 minute read Emad $0.08 tipped

Since the first news releases about Facebook's crypto (if you call it a pure crypto I believe), press and media have shown a massive amount of attention on this subject. Even President Donald Trump bashed Libra, which was unveiled just a month ago, s...

Israeli businessmen create Libracamp, the first technology incubator for Libra

4 days ago 3 minute read MonoBlack $0.06 tipped

Although it does not have the official support of Facebook, managers say they have communication with Libra and Calibra teams.   --- Within the framework of the announcements made by Facebook for the launch of its new cryptocurrency and taking advant...

Bitcoin 08/19/2019 by dobobs

5 days ago 5 minute read dobobs $0.01 tipped

Live Cryptocurrency Market by: Coin360.com 한 줄로 읽는 암호화폐 뉴스(Daily Crypto News, 08/19) [coinpress.co.kr] [굿모닝 비트코인] 0819 미 30년 만기 채권 수익률 역대 최저..경기침체 우려 속 비트코인 ‘5만 달러 간다’[blockmedia.co.kr] Top-5 Crypto Pe...

Binance creates analog stablecoin Libra

5 days ago 1 minute read ihodl25 $0.09 tipped

The world's leading cryptocurrency exchange Binance has announced plans to launch a “regional version” of Libra called Venus. According to an official statement, the main idea of ​​cryptocurrency is to deal with the existing financial hegemony, takin...

China About To Launch Its Official Digital Currency While America Puts Breaks on Libra

1 week ago 1 minute read Brawnd0 $2.54 tipped

The Chinese government is all set to launch its very own digital currency, as the People’s Bank of China stated that the new digital currency, DC/EP, “can now be said to be ready.” First reported by local media outlet Shanghai Securities News. The di...

Incent vs USD, Libra, Bitcoin...

1 week ago 3 minute read Incent $1.03 tipped

Our future almost certainly involves many different currencies – centralised, decentralised and somewhere in between – competing on the global market. Each will have relative advantages and disadvantages. What category does Incent fall into? Imagine...