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Facebook has partnered with several technology, financial and e-commerce companies to obtain cryptocurrency which allows for transactions between individuals and with institutions, according to the Wall Street Journal published today.
The currency project has the support, in addition to the social network, of companies such as Visa, Mastercard, PayPal and Uber, which will be part of a consortium named "Asociación Libra" (the operation has received the name of Libra Project) and will act as supervisor of the cryptocurrency.
Like this, Facebook will not have direct control over the currency, but it will be collegial from all members of the badociation, although it is the company that manages Mark Zuckerberg the main driver of this initiative, which will be officially announced next week.
Each participating company will contribute approximately $ 10 million to the management consortium of cryptocurrency, whose value will be tied to a basket of different international currencies to give it the stability that Bitcoin does not have, for example.
According to the New York newspaper, the Stripe payment group, the Booking.com travel booking portal and the Argentinean MercadoLibre e-commerce group are also among the project participants.
Do not have direct control of the cryptocurrency (something that was originally speculated) will give Facebook a greater scope for more than likely probable control by governments and regulators around the world, and particularly jealous with the company of privacy and user data management.
Despite the relatively little success that the crypto-currencies until now, if the project Facebook and the rest of the Free Association's companies are gaining ground among Internet users, the consequences for the global financial sector could be huge, as nearly one-third of the world's population has an active account on the social network. EFE
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