FACEBOOK CONFIRMS TO LAUNCH ITS NEW CRYPTOCURRENCY 'LIBRA' IN 2020
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Ongoing, First published Apr 20, 2020
Facebook has finally confirmed today on 18th June 2019 about its much-anticipated launch of cryptocurrency 'Libra' in the year of 2020. The New Year will see the first mainstream cryptocurrency by Facebook that is backed by a group of assets. The head of the Libra project is David Marcus, who is also the vice president of Facebook Messenger.The initial aim of the currency is to make it a mode of payment in locations that do not have proper access to government banks and gradually developing it to purchase and use in anything just like traditional currencies.Facebook currently has formed a major association to look into the progress and development of Libra with 27 external partners. These partners include Non-profit organizations, venture capitals, tech service providers, telecommunication networks, and payment gateways like- Paypal, MasterCard, Coinbase, Stripe, eBay, Visa, and even Uber and Spotify.
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