Here's what Facebook's new cryptocurrency Libra will look like and how it will work

Facebook has set up a new company called Calibra to manage it, as well as an independent"Libra Association" to govern the currency along with a few dozen founding members.It's official, Facebook's making its own currency., the secretive cryptocurrency it's been working on for more than a year. The currency is being backed by investment from big payment companies like Mastercard, Visa, and PayPal, as well as tech giants including Uber and Spotify.

It's set up a subsidiary company called Calibra, a wallet to handle users' cryptocurrency dealings, plus an independent not-for-profit"Libra Association," made up of founding companies that have already thrown their weight behind Libra to the tune of $10 million each. Users will be able to convert their local currency into Libra and then store that balance of Libra in their Calibra wallet. They'll be able to do this electronically, converting currency into Libra either using the Calibra app itself or third-party wallet apps.In terms of converting real-world cash, they'll also be able to head brick-and-mortar shops like grocers or convenience stores to top up their balance, much like people can now with top-up phone pay-as-you-go phone plans.

"Over time there will be many others including in-store payments, integrations into point-of-sale systems, and more." Point-of-sale systems typically just means a till, or a card reader.

Facebook reveals what their new currency will look like.

If they blow this would it be catastrophic for their other business ventures? btcforlife

BIAUS A solution to a problem that never existed thanks Facebook

Rude_Astrology this gonna work or naw?

As a young salamander he used to just annoy me. Now he's gone full reptile it's starting to freak me out.

- - Will Trump come out with / Gold- Backed Ameri-Coin? Is Zuckerberg attempting to 'blockchain Ledger' Digitally capture members/before new US-Gold-Cryto-Currency? Is Facebook crypto coin FDIC? Visa, Stripe, PayPal on-board to process Libra currency -

lovetogive2 I need crypto from Facebook like I need a new phone from Russia

His face though! He's like hey everyone I made another shitcoin hopefully we don't get hack because in 2017 I ban crypto ads on FB and now I'm coming out with my coin

👀👀👀👀👀

Cryptocurrency is the future ..

mkbijaksana mas ini faktanya gimana mas?

How much is enough? How many worthless currencies can you have? And what happens when a company controls currency? AND facebook cannot be trusted WHATSOEVER!

Ew

realDonaldTrump when a single man has 500 million users, their lives, their photos and more creates a cryptocurrency, that's never good news for the future of humanity, wanting to dominate the world is to play to god and dangerous man

Is it just me or as time passes... the Zuck looks more and, more like Data for Star Treck TNG?!?!

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook reveals Libra cryptocurrency, with lofty goalsFacebook Inc revealed plans on Tuesday to launch a cryptocurrency called Libra, ... Today would be a good day to stop using Facebook.
Source: Reuters - 🏆 2. / 97 Read more »

Facebook Unveils Crypto Wallet, Based on Currency LibraFacebook formally announced plans to launch a cryptocurrency called Libra, promising a secure blockchain-based payment system backed by hard assets and designed for mainstream users. PLEASE CONTINUE TO BE GOOD HUMAN BEING. I'VE STARTED TO BECOME HUMAN BEING. Please GROW-UP till the level of CHILDREN. We have very less time to become a GOOD HUMAN BEING. Please try to do it FAST. Too much power in one place! Get the real story on what Libra stands for
Source: WSJ - 🏆 98. / 63 Read more »

Facebook wants to make cryptocurrency mainstream. Here's howFacebook announced its digital currency project, Libra, which will be available to a global audience through the company's platforms. If you can’t hold it then it isn’t real Oh hell no. I know a Libra. Still owes me money.
Source: CNN - 🏆 4. / 95 Read more »

Facebook's Libra Cryptocurrency: Under The HoodNow that Facebook has finally published its plans for a new cryptocurrency, Forbes takes a closer look at what makes it tick by DelRayMan Crypto DelRayMan This has none of the redeeming components of crypto and all of the disqualifying aspects of Facebook. DelRayMan Crossborder payments Leave that up to XLM or XRP! End of Facebook is near 😁😁😁 DelRayMan buy bitcoin
Source: Forbes - 🏆 394. / 53 Read more »

Facebook’s digital currency could trigger new D.C. battlesFacebook’s impending move to offer a digital currency will create a new regulatory minefield for a company whose privacy practices have already provoked attacks from lawmakers in the U.S. and Europe One more negative article and I'm leaving FB 4ever. What would Mr. T say about anyone who handed their credit card number over to Facebook? Fb supports next-gen Nazi Trump! Dump Fb. You can live without it!
Source: politico - 🏆 381. / 59 Read more »