Facebook plans to launch new digital currency

[The Buzz]

Facebook announced plans to launch a new currency called Libra, a digital wallet that will be available in Messenger, WhatsApp and as a standalone app, with an expected launch in 2020.

From Telecompaper.com:

Facebook said the new service aims to reduce financial exclusion, as many people around the world still lack access to basic financial services. From the start, users will be able to send Libra over the Calibra wallet "to almost anyone with a smartphone, as easily and instantly as you might send a text message and at low to no cost", Facebook said.

In time, it plans to offer additional services for consumers and businesses, like paying bills with the push of a button, buying a cup of coffee with the scan of a code or riding public transit without needing to carry cash or a metro pass.

Libra is expected to work as Facebook's own currency based on blockchain, and it has lined up a number of partners to support the launch of the system under the name the Libra Association. The founding members are:

Payments: Mastercard, PayPal, PayU, Stripe, Visa
Technology and marketplaces: Booking Holdings, eBay, Farfetch, Lyft, Mercado Pago, Spotify, Uber
Telecommunications: Iliad, Vodafone Group
Blockchain: Anchorage, Bison Trails, Coinbase, Xapo
Venture Capital: Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures
Nonprofit and multilateral organizations, and academic institutions: Creative Destruction Lab, Kiva, Mercy Corps, Women's World Banking

Read more here: https://tinyurl.com/y28t9fkm

[Cash Bonus]

I don't think anything will beat the Bitcoin cryptocurrency. Libra won't be coming out until next year and from the different news articles that I've read about it, it doesn't look too promising and it's also a stable coin.

[sweetbet]

Libra, the Facebook coin is a joke and is not blockchain
https://twitter.com/CNBCFastMoney/st...96817934905346

Furthermore, the US government has just stepped in and asked Facebook to halt all development.

[universal4]

A few other comments here
https://www.gpwa.org/forum/facebook-...in-248693.html

Rick
Universal4