Binance announced the project Venus. Stabilini will compete with Libra from Facebook

The world’s largest crypto currency exchange Binance calls on governments, companies and entrepreneurs around the world to create “localized stabilini” on the blockchain Binance Chain. A large-scale project called Venus. His idea was the creation of numerous tablconv bound to Vietnam currencies around the world.

Recall, the company launched Binance Chain in March this year. This is an internal blockchain, which enables other projects to create their own tokens. One of such promising projects is BGBP — stablon tied to the British pound. According to the vision Binance, “chain should encourage developed and developing countries create a new currency”.

Not so long ago about the plans to release their own stabilini already stated the largest network of retailers Walmartand soshyant Facebook, whose project Libra which has already earned a bad name in cryptosuite. According to preliminary estimates, the project Binance is very different from what Facebook offers.

The largest crypto currency exchange in the world invites you to create projects on their own blockchain, which works on a consensus model DPOS (distributed proof of stake or “distributed proof of stake”). According to the rules of this model, transactions are checked by several organizations, related partnerships with the Binance. And unlike highly speculative Libra from Facebook, Binance fast rooted in space, and all the previous successes with the development and release of the private token Coin Binance clearly will give the company an additional advantage.

Amid Facebook at Binance a limited presence in the US, although the exchange tentatively plans to resume work on the territory of the States in the long term. Thus the Maltese company is well entrenched in Asia and Africa, so she probably should focus precisely on these densely populated regions. In a recent press release Binance openly calls for “governments, companies and organizations that have interest and influence in a global sense, to cooperate and create a new transparent Association and strong community”.

Source: Facts Learner

In fact, not yet understood the true motives of Binance and how it will be arranged a new stabilini. Representatives of the exchange guarantee “to ensure the full technical support of the process, an elaborate system of control of the risks associated with complaintaand strong cooperation for the creation of Venus”. Here’s what co-founder Binance Yi Hye talks about the planned project in the article for CoinDesk.

We believe that in the short and long term stabilily will gradually replace the traditional paper currency around the world and in the end bring us to a new balanced standard of the digital economy. We have a vision on how to change the world financial system, to help countries to build more inclusive financial services. And we hope to implement these plans.

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