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Several rumors have circulated in recent months regarding the launch of a cryptomoeda by the giant Facebook. Initially referred to as GlobalCoin, Facebook's digital currency will be called Balance and will arrive in 2020.
In addition to this cryptocurrency, Facebook will also launch the Calibra digital wallet.
Facebook has finally revealed details about its digital currency that will be called Libra. The information available on this currency is available here. Get to know this cryptoman.
Currency balance
All the ecosystem of digital currency Libra uses technology blockchain In practice, people will be able to send, receive, spend and secure their money in a more inclusive global financial system.
Facebook officials even think that this service will be very interesting for those who do not have a bank account. All account management can be done from a single application (Calibra wallet) And we already know that this cryptomoeda will be integrated with services such as WhatsApp and Messenger.
On Facebook, Mark Zuckerberg said that ...
The mission of the book is to create a simple global financial infrastructure that can be used by millions of people around the world. This structure is based on blockchain technology and will be launched in 2020.
Being able to use this type of money can have a major positive impact on people 's lives because you do not have to take away physical money, which can be dangerous, nor to pay additional fees. for your transfers. This is especially important for people who do not have access to traditional banks or financial services. At present, about one billion people do not have a bank account, but a cell phone.
Confidentiality and security will be at all levels. For example, a team of risk management specialists dedicated to preventing the risks of using technology and money for fraudulent purposes will be created. Fraud protection mechanisms will also be available. If you "lose" your coins, Facebook offers refunds.
Association Balance
According to his announcement, it is easy to see that this digital currency has a well thought out structure, with heavy companies. The Balance Association headquartered in Geneva, Switzerland, is a non-profit entity that will control and manage this digital currency.
29 partners are already part of this association. To enter this "consortium", it is known that each partner had to contribute with a minimum of $ 10 million. The project is worth billions of dollars. From the list of partners selected for Paypal, Visa, Spotify, Vodafone, Mastercard, Uber and up to Portuguese farfetch. You can learn more here.
As mentioned, this digital currency is already coming in 2020 and promises to revolutionize the crypto-coin market. The entry of Libra should be strong, considering the associated partners and also the fact that the social network has a huge "monopoly" of users.
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