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.


Thoughts and Feedback on the Libra Whitepaper Announcement Yesterday

19 Jun 2019 1 minute read Mark Anstead $4.68 tipped

Just spent some time going through the new Libra whitepaper yesterday, and it's no surprise that they aren't doing anything special or new by any means. I did see something that was interesting- they look to be the first network to go from entirely p...

What Libra does works ?

5 Oct 2019 1 minute read BitMarian $0.07 tipped

What is Libra ? Libra is a cryptocurrency that will be released in 2020 . The source code was published in July 2019 and its goal would become a stablecoin like the USD Coin. What's Libra used for? Libra will be used to facilitate payments between so...

Curate Bitcoin 10/19/2019 by dobobs

19 Oct 2019 5 minute read dobobs $0.03 tipped

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CURATION. Every investment and trading move involves risk. You should conduct your own research when making a decision. Current Market Pr...

Libra has no future, facebook should support third-party projects, so a report from the eToro blockchain research unit

2 weeks ago 1 minute read Roberto D. $0.07 tipped

The report published today by Finextra, the research unit of eToro, puts forward a series of substantial criticisms of books, the cryptocurrency made in facebook, strongly desired by Zuckerberg, who has so suddenly ignited the controversy of media an...

Curate Bitcoin 11/28/2019 by dobobs

2 weeks ago 6 minute read dobobs $0.01 tipped

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CURATION. Every investment and trading move involves risk. You should conduct your own research when making a decision. Current Market Pr...

LIBRA FACEBOOK COIN

2 weeks ago 2 minute read wilfred24 $0.02 tipped

Face book Inc is an American social media company founded by Mark Zuckerberg, together with his roommates at Harvard. It is based in Menlo, California. The company builds technologies that connect people with their families, find communities, and gro...

Libra. Does that mean it is a done deal?

3 weeks ago 1 minute read coffice $0.01 tipped

  "As is normal for a CEO of a major U.S. company, Mark accepted an invitation to have dinner with the President and First Lady at the White House [in October]", a Facebook spokesperson said in an emailed statement. A source familiar with the dinn...

Curate Bitcoin 11/20/2019 by dobobs

3 weeks ago 5 minute read dobobs $0.01 tipped

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CURATION. Every investment and trading move involves risk. You should conduct your own research when making a decision. Current Market Pr...

Curate Bitcoin 11/19/2019 by dobobs

3 weeks ago 6 minute read dobobs $0.00 tipped

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CURATION. Every investment and trading move involves risk. You should conduct your own research when making a decision. Current Market Pr...

LIBRA IS DEAD, Zuckerberg launches Facebook Pay

13 Nov 2019 1 minute read Roberto D. $0.20 tipped

Today, Facebook Pay, a native payment system for the products of the Zuckerberg galaxy that officially marks, in my opinion, the definitive end of the libra project which, in fact, even if it was launched, would overlap with Facebook Pay becoming a s...

Politicking the Saga of Facebook’s Libra Confusion/Testimony

6 Nov 2019 3 minute read Dotun Deetee $0.19 tipped

Recently I have been trying to explore the USA Congress views on the various issue to why Facebook's Libra continues to have glitches with approval. I have written articles in the pasts to suggest my theories to why it will be a disaster to approve t...

Curate Bitcoin 11/01/2019 by dobobs

1 Nov 2019 5 minute read dobobs $0.01 tipped

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CURATION. Every investment and trading move involves risk. You should conduct your own research when making a decision. Current Market Pr...

Facebook will not launch libra without US approval

23 Oct 2019 1 minute read CryptoArgha $0.13 tipped

Social media giant facebook founder mark zuckerburg told the press facebook will not launch libra without U.S proposal   According to mark prepared statement published in Octobor 22 he stated that,   Facebook will not launch global payment currency l...