We have heard in the past that Facebook is launching their own digital currency. Should not come as a surprise to anyone because the entry of Facebook to market digital currency is only the next logical step for the company because of the big popularity enjoyed by the digital currency in recent years.
As expected already, the Facebook today to disclose your own digital currency referred to by the name of Libra. However, what raises the interest in the digital currency of the new Libra is that it will not be controlled fully by Facebook itself, which should be the subject of relief to those who have become skeptical of the intentions of Facebook after the scandals of privacy on which the company found itself involved in recent years. Instead, the company will use Facebook to control the digital currency the new Libra along with a range of other financial companies such as Visa and Mastercard and Andreessen Horowitz and Uber.
For the method of work of the Libra compared with digital currencies such as bitcoin, they are different because the new currency is less volatile. Because the Libra will be supported by government funds. Although they will not be ready 100%, they are still reliable, which makes us look like its purchase of government bonds.
According to David Marcus, which is available to the management of the company subsidiary of the new Calibra, which has been created by Facebook, it has stated by saying : ” If I bought $ 50 of Libra, the $ 50 to your make their way to the Libra Reserve. It’s designed to be stable and the value for Libra which makes it more like work traditional more than any other digital now. This is the way that the creation of paper money “.
Expected launch of a new digital currency Libra in the first half of the year 2020, and Facebook also use its subsidiary company New Calibra to create a digital wallet to allow users to save work and Libra their spending and send them to other users. In the case if you are interested, the Facebook also published a detailed document about Libra you can read it here.