the Libra coin, which will launch next year and will be run by a nonprofit association supported by a range of companies and organizations, including the social media giant. Facebook also revealed a new unit called, Calibra, which will host a digital wallet by the same name for storing and exchanging Libra. Calibra will eventually be a way for Facebook to make money on the currency.
Libra will use the blockchain technology underlying bitcoin on other cryptocurrencies. The goal is to make it as easy to send money across the world as it is to send a photo. But unlike bitcoin and other digital coins, Libra will be backed by government money.
Zuck will never be a savior.
I get the feeling that Facebook's Libra Coin is going to push banks and maybe even Central Banks to take a much closer look at XRP as a possible answer/solution to the Facebook currency. Competition is heating up and leaving banks with no choice but to upgrade.
Wouldnt that make FB a defacto reserve currency/central banker to the third world?
jimcramer has no fucking clue how cryptocurrencies work. he was, and still is, bearish on bitcoin. i rest my case
Here is the link to the video that explains the Fiat backed Libra token. With excerpt directly from white paper. Don’t be fooled
But the Libra coin is backed by those same currencies you just talked about! It is not immune to the inflation rate of the given fiat! Same problem, just in a digital form. Maybe Jim Cramer needs to watch ThinkingCrypto1 ...get his facts straight.
BS. 10 years later?
Don’t get Zucked.
Yes, FB will get all the Russian hacker business, just like 2016.
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