In 2021, Facebook plans to introduce its own cryptocurrency
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There has been a lot of conversation about Facebook launching its currency, and now we have the news that Facebook will be launching Libra.
Transcript of In 2021, Facebook plans to introduce its own cryptocurrency
Copyright © Blockchain Council www.blockchain-council.org 1
Copyright © Blockchain Council www.blockchain-council.org
In 2021, Facebook plans to introduce its own cryptocurrency
The digital financial revolution is the new thing that the world is now talking about. We have seen so many changes and developments in financial transactions ever since the world got to know about cryptocurrencies. In 2009, the concept of peer-to-peer transactions surged with Bitcoin, and now we are exploring new ways to make it the new normal. Many big names and companies are now coming up with their digital currencies. The new addition to this list is Facebook. There has been a lot of conversation about Facebook launching its currency, and now we have the news that Facebook will be launching Libra.
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What is Libra?
To aid seamless financial transactions, Facebook will be launching its cryptocurrency Libra. This is backed by Mastercard, Visa, and PayPal and will aim to exchange currencies. As per Facebook, Libra will be less volatile as compared to other digital currencies like Bitcoin. There are some of the big names that have already invested in this project. Names like Spotify and Uber have already invested in it.
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What are the key features of Libra?
Some of the notable features which will make Libra a popular medium of transactions in the future are:
1. Easy exchange via mobile 2. It is not a volatile cryptocurrency and is backed by a reserve of asset 3. Transactions via Libra is going to be fast and quick 4. Libra is developed on Blockchain, and hence, it is going to be absolutely
safe and secure.
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Another notable feature of Libra is that it is designed to be accessible globally. Moreover, it is a low-cost payment system. As per Facebook, Libra is here to complement the conventional mode of payment. It will make this payment available to all, and it will be working in sync with domestic currencies. Libra will be working on a decentralized platform that will have different validators. They will work in sync with each other to process the transaction. These validators will also be a member of the Libra Association. The work of this association will be to provide a framework for the governance of the network. Facebook plans to have a network of supporters that will be initially limited to geographical location, and later, it will become public. Libra will shift to become a permissionless system.
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What's next?
This move by Facebook is just the beginning of a new era of change. In the times to come, we expect the world to shift towards the use of cryptocurrencies and Blockchain. Thys, there is going to be a high demand for individuals who have expertise in this domain. It is the work of Blockchain experts that we have such cryptocurrencies and Blockchain use cases surging. Blockchain will create a system of trust and seamless transactions, and if you want to be a part of this growing industry, then it's time to join the Blockchain certification program.
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain space today.
● Certified Blockchain Expert● Certified Blockchain Developer● Certified Smart Contract Developer● Certified Solidity Developer● Certified Ethereum Developer
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