The Facebook cryptocurrency project will be presented to the General public next week, writes The Block with reference to the introductory publication prepared by the company.
Libra will be based on the blockchain of the same name and will be provided with the "reserve of real assets" Libra Reserve, which will become the basis of "stability, low inflation, global distribution and interchangeability" of the instrument.
The Libra blockchain will be based on open source principles under the Apache 2.0 license. It is expected that the Libra test network will be launched on June 18, so that the company will be able to assess the public reaction and identify future directions of its activities.
Also, The Block provides a list of prospective partners of the initiative, which includes several representatives of the blockchain industry, including the Coinbase exchange and xapo custodial service, as well as participants in various industries, including e-Commerce (eBay), investments (Andreessen Horowitz, Union Square Ventures), payments (Visa, PayPal, Mastercard), telecommunications (Vodafone), etc.
What do you think will facebook be a big competitor in crypto world? or its another shit coin?
source of pic from forbes