FaceBook dabbling in the cryptocurrency Libra (≋)

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Libra (≋) The Currency.

^{Source of the image official page Libra}

We all know how was the growth in a few years of facebook and how he managed to take over social networks worldwide, in addition as Facebook is everywhere with its multiple applications and a variety of programs.

Facebook now ventures as it was announced in the world of digital currencies and soon will have its digital currency Libra, you can say that there is much expectation for all the benefits it offers, just visit your official page Libra in which you can read in many languages what this new currency is about. There was foresight for the reach, they know that it is in all the communities of the world and it is very difficult or it is hard to believe that there is a country where Facebook is not present, well except for North Korea.

This coin will be handled under a wallet called Calibra

In order to manage the wallet, another subsidiary of Facebook was also created and will operate independently. Calibra will be a digital wallet that will allow the new digital currency Libra to be stored and used. That is, a payment platform for Facebook, Messenger and WhatsApp that will exist as a separate application on iOS and Android.

Libra

Blockchain that will be supported by more than 100 large financial companies

With this digital currency from facebook you can pay online. (Yes nothing new) one of the most important things is that the digital currency Libra is based on Blockchain and will be supported by more than 100 large companies financial institutions, including MasterCard, Visa or Paypal. All payment services will be based on the digital currency Libra if we talk about more than 100 companies, the visible face will always be FACEBOOK.

Well it is well known who are behind this new open source currency based on Blockchain undoubtedly for its development it has a group of engineers, it can not miss the presence of some Facebook members, it is expected to maintain a leadership role during 2019 to boost the use of Libra.

All of us who are in this crypto world know that it can be very volatile, Libra will take forecasts and will be supported in its entirety by the Libra Reserve, a collection of coins and other assets that is used as collateral for each Pound created.

Since it will be available worldwide as well as other cryptocurrencies, it can be used to make normal payments such as buying clothes, shoes, going to the supermarket or paying for public transport. Through the digital wallet Calibra, also save digital money, but that is not all other way you can use it is to send money through Calibra what you will do is send Libra, you can also convert local currencies into Libra and vice versa . By making these conversions, the Calibra application will show you the exchange rate so you know exactly how much money will be obtained.

Calibra will not be exempt from commissions, Facebook promises that they will be low and transparent. Especially when sending money abroad.

As Facebook carries out the processes to finalize the launching of its currency, I believe that there will be much more information, which is already going out, a very important one is the regulating entities.

But the company should wait until the United States Congress has examined the bill, according to the chairwoman of the House Financial Services Committee.