Thursday, July 11, 2019

Facebook's Cryptocurrency Libra is Coming or Not !


After a long speculation, finally the social media via Facebook is going to introduce their own digital currency 'Libra'. Initially, Mark Zuckerberg's association Facebook has signed with more than two dozens of organizations in the world, including Visa and MasterCard regarding the digital currency.

Facebook say, their cryptocurrency Libra will be launched in next year. But in the meantime 28 organizations have contracted with Facebook. These are the payment companies, commercial companies and venture capital companies from the Globe.

Before being officially launched, Facebook hope that Libra will sign agreement with at least 100 famous companies. At present, there are 1.7 billion of people in the world yet who are not maintaining any bank account but a large number of these people are suing Smartphone. Facebook has targeted the vast majority of people to raise Libra as a way of financial transactions.

They also said that there is no need of a bank for financial transactions in this digital currency system. It is possible to send money directly from any Smartphone to another across the world.

Expert opinion about Libra is that this digital coin of Facebook is going to bring a big change to the banking and financial system around the world. Facebook is creating its own 'digital currency' in the financial market. Not only that, but also to draw crystallization on the digital platform, Mark Zuckerberg already tied up with the bandwagon.


Although the decision for the organization is final, America and England have not been agreed yet. They are looking answers for a bunch of questions for the safety of users to Zuckerberg. The US Federal Reserve System has added its voice to the chorus of doubts raised by lawmakers, politicians and others worldwide about Facebook's newly announced crypto currency, Libra.


Read the article published on cnet on 10th July, 1019: Facebook Libra cryptocurrency a 'serious concern' for Federal Reserve, report says.




If Libra can come to the market, it can turn the foundation of banking and economic system all over the world!


Related Topics:
About 15% Online Freelancers are from Bangladesh

No comments:

Post a Comment