Facebook to Launch Libra Cryptocurrency

Facebook has announced plans to launch a cryptocurrency in 2020 called Libra.

libra association

Facebook.com

Libra is designed to be a “stable-coin” form of digital currency that’s not based on speculation like Bitcoin.  The currency will be backed by other global currencies and big financial services like Mastercard and Paypal.  The goal is to create a mainstream cyrptocurrency that will allow for a transfer of money between individuals of different countries who may lack access to traditional bank accounts and can be used for nearly anything, including loans and credit.

 

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