Facebook announces its own cryptocurrency called Libra

On the 18th of June 2019, that was Tuesday, Facebook announced a decentralised cryptocurrency known as Libra.
Libra would allow Facebook, Instagram and WhatsApp users to make purchases online and also send and receive money.

Libra is set to be launched in the first half of the year 2020.

Facebook will be partnering with 27 organisation around the globe to form Libra Association, a non-profit organisation, in order to globally implement the cryptocurrency. Facebook and these 27 organisations will have equal control over Libra.

According to Mark Zuckerberg, Facebook will ensure that, users are protected from fraud and account hacking just like how big banks and credit card companies does.

Post a Comment