Facebook And The New Cryptocurrency: Libra
Facebook has created a new digital currency and its name is Libra. With partnership with Visa, PayPal, Stripe, Mercado Pago. Furthermore, these merchants will be accepting Libra.
Moreover, other tech companies on board with Facebook include eBay, Uber, Lyft and Mercado Pago.
The plan of crypto currency Libra is pretty solid because Facebook will also be introducing a new digital wallet with it called Calibra. This will be used by people to exchange plus store currency. The mission will be done through with Facebook apps.
What Is Libra The Cryptocurrency?
Libra will be introduced during the 1st half of the coming year. The currency will be run by the Libra Association which is based in Geneva, Switzerland.
The whole aim of it is to be accessible, secure and then stable. It has also been announced that Libra cryptocurrency will be backed by stable governments’ money.
Seems to me that Sheryl Sandberg’s Facebook is trying to come up with a one stop solution for digital currency. This means that Facebook is trying to secure a name in the cryptocurrency industry by the name of Libra and then support it with all sorts of other mechanisms including digital wallets and currencies.
The gimmick and trick by Facebook here with the cryptocurrency is that they are going to come up with a one-stop solution, the cryptocurrency itself (aka: Libra) and then come up with a well rounded solution such as the Digital Wallet to support it and so the money goes back to Facebook itself with its detrimental exchange rates on and for the app.
Furthermore, and lastly, with the cryptocurrency, Libra, being backed by monetary exchanges such as governments money, the backing is solid, the support is legit and America, is getting a new currency by next year. This will solidify the companies’ state in World though it will also strengthen America’s position “against” the World.
Since America considers itself to be the Only Solicited Economy to take charge or the World and then by and by then, according to that.
Here’s to hoping that World Dominion doesn’t go to one state. Aka. America. However, since there are so many companies competing for the World Dominion and especially in America on every second, know and realize that America is in for a ride!