Facebook is launching a concurrency in 2020 like a Bitcoin (BTC) called Facebook Libra. We’re going to be diving into how Libra works and how to buy Libra Coin.
What is Libra Coin?
The Libra coin is a cross between Bitcoin and PayPal, meaning Facebook Libra will be a disruptive digital currency. Facebook will be making Libra available to those who do not have banks or even bank accounts. What does this mean? Facebook Libra coin is following the footsteps of other currencies, and will be available outside bank systems.
How does Libra Coin work?
Libra is impending digital currency which you can access via apps to pay or send money to others. Hence, meaning Libra coin is very similar to PayPal. However, unlike PayPal Libra coin mainly targets those without bank accounts.
Just like most crypto currencies Facebook Libra will require a Wallet. That is to say, an app that will keep all your Libra coins and might be integrated into other apps.
About Facebook Libra
Libra uses an open-source blockchain called the Libra Blockchain featuring its own proof-of-stake protocol. The Libra mission is to reinvent money and transform the global economy so people everywhere can live better lives.
Backed by a reserve of various assets designed to give it intrinsic value, it is governed by the independent Libra Association tasked with evolving the ecosystem. Members of the Libra Association consist of geographically distributed and diverse businesses, nonprofit and multilateral organizations, and academic institutions. Hence, names like PayPal, Mastercard, Stripe, Visa, Facebook, eBay, Lyft, Uber, and Spotify, to name a few.
Facebook teams played a key role in the creation of the Libra Association and the Libra Blockchain, working with the other Founding Members. While final decision-making authority rests with the association, Facebook is expected to maintain a leadership role through 2019.
How to Buy Libra Coin?
Facebook Libra has not hit the market yet, it will be available in early 2020. However, if you’d like to stay on top of updates on this new crypto, you can go like Facebook’s dedicated Libra page.
You can also stay on top by watching the Coin Market Cap updates and charts.
If you have any question be sure to check out dedicated page for the coin on Facebook. If you want to know the future checkout: How Libra Coin Will Change The Crypto Currency World.