Facebook's LIBRA is using a SMART CONTRACT

Facebook's LIBRA is using a SMART CONTRACT

By WilliamRyan | The Feedback Loop | 16 Apr 2020


After massively scaling back their ambitions Facebook's Libra appears to be making moves towards actually launching as a a lot of new information has emerged. Libra was in battles with most governments in the world over regulation issues and Mark Zuckerberg is a not being a very liked person on capital hill due to the past data leaks from Facebook and if his name wasn't attached to the project it would have been easier to get off the ground but progress is still being made.

But what is very interesting in this new information is that Libra will be using Smart Contacts to keep price data correct.

The project will now focus on providing individual stablecoins for specific fiat currencies, such as USD, EUR and GBP, s well as its Libra Coin. Instead of being backed by a basket of fiat currencies, the Libra coin will now be backed by the stablecoins. Smart contracts will keep its price linked to the combination of stablecoins. - Tim Copeland of Decrypt

It is unknown at this time what smart contracts they are going to be using but this is a big step for smart contracts if a company with as much reach and influence as Facebook is pushing the technology and a big plus for any Crypto using smart contracts to sell themselves.

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WilliamRyan
WilliamRyan

A radical centrist agent of chaos hellbent on destruction of the material world.


The Feedback Loop
The Feedback Loop

From my Brain to The Machine.

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