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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 COIN CANCELED?

3 Jul 2020 2 minute read 0 comments Albert10.20

  WASHING INNOVATIONINSPIRATIONPLANETDO IT YOURSELFEVENT / MECHANICALHYPOCHONDRIAThe Future Is Here logo Facebook Brings Serious Regulations to Libra CoinApril 24, 2020You remember the vision of Libra Facebook created in June last year to promote fin...

According to Research How Many Million British Bitcoin or Altcoin Owners?

1 Jul 2020 1 minute read 0 comments DHEagle

Stagnant prices did not affect crypto investors in the UK. A new study commissioned by Britain's Financial Attitude Authority (FCA) revealed that nearly 2 million UK citizens currently own any cryptocurrency. On June 30, FCA published the results of...

Federal Reserve Economists: Lawmakers' Worry About Libra "Overstated"

23 Jun 2020 1 minute read 1 comment Abhi K

In a report published on June 22, economists from the United States Federal Reserve have said that earlier iterations of Facebook’s Libra currency had induced an overreaction from lawmakers and that the worries were “overstated.” Garth Baughman and J...

Feels Like a Bomb With Facebook Libra Coin

21 Jun 2020 4 minute read 0 comments Albert10.20

What is Facebook Libra?facebook-lb Facebook, which is considered to be one of the most popular social networks in the world, has joined the crypto money world. It was already known that Facebook was working for a long time in relation to crypto money...

How Facebook's Libra Scared Governments That It Could Challenge Dollars Supremacy !!

16 Jun 2020 2 minute read 0 comments Ashma

Let's Go Back In Time !! Whether you follow cryptocurrency or not but you definitely know about Facebook and eventually Libra, it's cryptocurrency. Exactly 1 year ago, during this month Facebook officially announced their plans for Libra and if you r...

FACEBOOK LİBRA COİNS AND BİTCOİN

14 Jun 2020 3 minute read 0 comments Albert10.20

They often ask what are the differences between Bitcoin and digital currency Libra. In this guide, we will compare Bitcoin and Libra and reveal the differences between them. First of all, we can say that Bitcoin and Libra are different projects that...

Why China sees Libra as a Threat to Their Central bank Digital currency?!

8 Jun 2020 1 minute read 1 comment alberdioni8406

China digital yuan have been on track and developments for about 6 years now and accordingly to China local media could be anytime released to the market which already have pilot programs running from different associates on the country and recently...

EToro Analysis: An Overview of Bitcoin and Libra

4 Jun 2020 3 minute read 1 comment PassionCryptodotcom

EToro market analyst Simon Peters shares his views on Bitcoin and other crypto assets This analysis of the cryptography market comes from eToro analyst Simon Peters. Here are his views on the current state of the crypto industry.  Global stock market...

FACEBOOK AND LİBRA COİN

3 Jun 2020 3 minute read 0 comments Albert10.20

What is Libra, What Is It For?Social media giant Facebook describes Libra as the “internet of money” by stating that the world needs a reliable digital currency and infrastructure. In Libra white paper, where it is pointed out that securing financial...

Libra ! News from Mark Zuckerberg

28 May 2020 1 minute read 1 comment Sirt33

  Hi all, Today we will talk about Mark Zuckerberg and Libra, Facebook's future crypto :   What the crypto-sphere world has come to expectMark Zuckerberg, CEO of the social network Facebook, said Wednesday at the investors' general meeting, in a fran...