Facebook to launch its own Cryptocurrency
Recently Facebook F8 Conference held and different development announcement was made and already implemented. One of the announcements in the F8 Conference is Facebook to own its Cryptocurrency. It’s still unofficial when the currency came into use, but it is almost sure that Facebook to launch its own cryptocurrency in the market maybe next year according to the different online sources. Facebook new Cryptocurrency might be named as “LIBRA”.
Unlike Bitcoin, Facebook cryptocurrency “LIBRA” will be performing in the same manner but with the full support from Government, different digitize payment providers and cryptocurrency exchanges. The white paper of the cryptocurrency is releasing on June 18, officially the cryptocurrency will be launching in next year.
To speed up the launching process, Facebook tries to make the direct connection with Governor of Bank of England, US Treasury officials, PayPal president and also with British and US financial regulators. Facebook to initiates the Libra Networks in Switzerland for financial services.
Facebook also aims to initiate the E-commerce site in a similar manner as Wechat in China, where users can play games, chat and also buy the products without leaving the current platform.
Applications of Facebook Cryptocurrency “LIBRA”:
- Users can send money
- Pay for the kinda stuffs in Facebook and Instagram such as Boosting or advertising the content
- Users can use this medium to pay for the different online forms, where these kinds of Cryptocurrency were accepted.
- You can also use this in Physical device such as Libra ATM’s