Facebook unveils Libra, its long-awaited cryptocurrency project

Facebook unveils Libra, its long-awaited cryptocurrency project

June 18th, 2019|Tags: , |

On Tuesday June 18, 2019, Axios wrote:
The company's Libra coin will be backed by an independent foundation and is expected to launch next year.

After nearly a year of speculation which will be called Libra and debut in 2020.

Why it matters: With more than two billion users government, or organization.

The details: While Facebook has spent the past year working in house on the plans and technology for Libra, the cryptocurrency will be managed by a separate Switzerland-based foundation initially backed by Facebook and 27 other organizations.

Facebook’s connection to Libra will be as a member of the governing foundation and as the maker of a digital wallet for sending and receiving the currency. Calibra will be managed by a wholly-owned subsidiary of Facebook.

About the Author:

Smart, efficient news worthy of your time, attention, and trust Axios has recently written 10 articles on similar topics including facebook, cryptocurrencies:
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