Appearing about 10 years ago, the first Bitcoin in the world of cryptocurrency caused a real sensation in the international financial market. Then, due to a sharp jump in the course, the cost of one digital coin was $ 20 thousand.
Due to some secrecy around this topic, until recently there was almost no information about Facebook cryptocurrency.
This type of cryptocurrency should help avoid its main problem – the volatility, or, more simply, the instability of the course with which Bitcoin and its cheaper friends suffer. The stability of the digital coin is planned to ensure that Facebook itself will own a certain amount of “real” fiat money, which will save cryptocurrency from unpredictability.
It was reported that the developers will create a special platform based on Facebook, which will allow you to trade a new cryptocurrency and exchange it for various foreign fiat currency.
Rumors about Facebook cryptocurrency are no longer rumors. Already this year, the testing phase begins, and the launch is planned for 2020, which will officially be announced very soon. All we know is that a complete document is being prepared, in which there will be a concept and a development plan.
A new cryptocurrency was spoken about last May, and it is also known that the preparation and study of data for launching our cryptocurrency began in 2017.
Facebook pledged himself to make it easier for billions of users of Facebook, Messenger, Instagram, and WhatsApp to make payments. It is believed that the new cryptocurrency will be called GlobalCoin, others believe that the name of the new currency will be Facebucks.
Back in December, it became known that Facebook is assembling a new team of workers on the cryptocurrency project. The head of such a team should be the former president of PayPal, David Marcus, who is the first Bitcoin investor.
Now the team includes more than fifty employees.
Before launching his cryptocurrency, Facebook began to study in detail the financial cryptocurrency, blockchain and the entire system of electronic money. After the team met with many financial institutions and companies, Facebook realized that to effectively implement its token, you need to give up full control, so they created an independent group that will monitor the token.
One of the slogans on the cryptocurrency website from Facebook reads: “Reinvent money. Change the global economy. So that people live better everywhere.”
To achieve such a goal, Libra took the path of maximum decentralization of infrastructure and its maintenance.
The new cryptocurrency will work on a closed blockchain, which means that all registered users will become members of the network, but only members of the specially created Libra Association will manage it.
Unlike bitcoin, Libra will use a more eco-friendly way and will not consume much energy. And most likely that will be forging technology. This is, for example, already used by Metahash, which offers new solutions for all aspects of platform interaction.
Also, Facebook puts on the fact that their cryptocurrency will be stable, and therefore many companies will be confident in its price and their profits, because of which millions of dollars will undoubtedly pay. And that, in turn, will only fuel the interest of other businessmen who will attract even greater benefits. And it can not affect the stability of the coin, a high level of security and low cost of transaction fees.
But still, there are a lot of secrets about the work of this cryptocurrency. There is information that between programs that belong to Facebook tokens will be transferred without commission. That is, transactions through the application system Facebook, Messenger, Instagram, and WhatsApp will be a dangerous competitor for services such as Venmo and Apple Pay Cash.
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