Facebook’s cryptocurrency, Libra will knock in 2020
Social media platform Facebook has announced that it will launch crypto-currency next year by 2020. The name of this cryptocurrency will be Libra. However, it is not necessary to have a Facebook account to use this cryptocurrency.
On the one hand, Facebook has described Libra as a stable coin, and has convinced the world that it will not be a chaotic cryptocurrency-like bitcoin, on the other hand, regulators across the world are worried about seeing Facebook’s digital privacy record.
What is stable coin Digital Currency
Stable coin is called the digital currency, which is supported by government-backed currencies and securities (currency and securities). Not only that, Facebook hopes that its digital currency Libra will gain the same strength as the US dollar has gain.
According to David Marks, head of the Facebook blockchain team, Facebook is planning to create a new digital wallet that will be within Messenger and What’sapp. These two apps will enable Libra transactions between friends, family members and business entities.
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