American Newspaper: Facebook unveils its Digital next week

Got a company Facebook to support more than a dozen companies for its digital encrypted new named Libra, which is planning to reveal them next week, and launch next year, according to the Wall Street Journal.

These companies include major financial institutions, such as the Visa Visa; and Mastercard Mastercard, and the internet, and electronic communications, such as PayPal; the AWeber Uber; and Stripe; and

Will invest each of them approximately $ 10 million to finance the development of the currency, which will become part of the currency union Libra, which is the Union of the Independent, tells the digital currency independently of Facebook.

The participation of large financial firms, such as Visa Visa; and Mastercard Mastercard, is interesting, because crypto-currencies are usually considered a cheaper alternative compared to the payment services traditional.

Expects the Wall Street Journal reported that these companies want to participate; so you can control the ambitions of the defense on Facebook, as well as take advantage of the popularity of the currency in case of its launch with users of the Facebook activity, the population of 2.4 million people.

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As for Facebook, they think that creating an independent body, may increase the burden of great responsibility towards the users and regulators, who have become more cautious of the amount of force that enjoyed by Facebook.

And Facebook to find job number and provide ways to reasonable and safe to repay the payments, regardless of the users having a bank account or not, and hopes in areas of current networks, by breaking the barriers of Finance, and with banks, reducing costs for the consumer.

The information related to the participation of Facebook – the so-called Project Libra to launch a digital currency – has appeared for the first time in a month last December.

Said Mark Zuckerberg, Facebook CEO, at the developers conference earlier this year: the payments are a free company can make it much easier, and I think that the process of sending money to someone should be as easy as the same in the sent picture.

It is assumed that the detected currency encrypted on 18 June, with the launch of its fully by 2020, it is expected to serve as a stable currency, meaning that it will be pegged to a basket of currencies-governmental organizations; in order to reduce the volatility usually associated with the encrypted, such as Bitcoin Bitcoin.

And stability is a major concern, where the hopes for Facebook to attract its digital users in developing countries, and become a substitute for local currency the most volatile.

In addition to allowing users to send money across their product messaging, such as WhatsApp; the user, the Facebook in hopes that allows its cooperation with new companies and e-commerce users to spend currency online.

It is reported that police are also looking to the possibility of developing peripheral devices like ATM in order to help people to convert their money into the currency of Libra.

Is on Facebook to overcome the many regulatory hurdles before it can launch the work, as you need to address the concerns related to fraud, money-laundering, which is a source of concern within the Union.

It is said that Facebook had met with the governor of the Bank of England, Mark Carney, Mark Carney, to discuss the opportunities and risks of the work, in addition to meeting with money transfer companies, like Western Union Western Union.

And on Facebook the management of the organizational aspects of the work correctly, in case she wants its currency to success in key markets such as India, which has taken an aggressive stance towards crypto-currencies are in recent years.


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