Facebook to launch its own global cryptocurrency 'Libra' by 2020
- 5 years ago
Facebook is set to launch a global cryptocurrency called 'Libra' by 2020.
The world's biggest social network announced on Tuesday that Libra, a digital currency powered by blockchain, can be used in the Messenger and WhatsApp platforms to buy products online or wire transfer.
An independent organization called the "Libra Association" will govern the currency.
Facebook says Libra will benefit users thanks to very low fees and simple payment procedures.
With more than 2-point-4 billion active Facebook users, watchers say Libra could gain a more mainstream audience than other cryptocurrencies such as Bitcoin.
The world's biggest social network announced on Tuesday that Libra, a digital currency powered by blockchain, can be used in the Messenger and WhatsApp platforms to buy products online or wire transfer.
An independent organization called the "Libra Association" will govern the currency.
Facebook says Libra will benefit users thanks to very low fees and simple payment procedures.
With more than 2-point-4 billion active Facebook users, watchers say Libra could gain a more mainstream audience than other cryptocurrencies such as Bitcoin.