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Facebook Launches Libra, the Supposed New PayPal - Science/Technology - Nairaland

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Facebook Launches Libra, the Supposed New PayPal by ubongkoffi: 10:59pm On Jun 18, 2019
Facebook after two years of work at its Menlo Park headquarters have come forth with a revolutionary digital white paper currency, unveiled to the World as ''Libra'' at the San Francisco's historic mint popularly recounted as the the home of American gold reserve, '' A building over 150 years Old.

Libra will be transacted at zero fees, it will be used to send money to people or buy things online or cash out your Libra online or at local exchange points like grocery stores, and spend it using inter-operable third-party wallet apps or Facebook’s own Calibra wallet that will be built into WhatsApp, Messenger and its own app.

Facebook does not 100 percent control the Libra currency, infact facebook has a 1 percent dominance over the cryptocurrency. Companies such as Visa, Uber, spotify, Facebook, Horowitz have invested over 10 Million dollars each as entry fees for the project, thus forming the Libra Assoiciation. An Association proposed to be composed of 100 Top multi-Million dollars brand in the world.

The association will promote the open-sourced Libra Blockchain and developer platform with its own Move programming language, plus sign up businesses to accept Libra for payment and even give customers discounts or rewards.

The most target countries for this new development include countries like Indian, China and other Top population dense countries, It is gathered that india leads the world in remittance and transactions according to World Bank, which saw a record of over $80 billion sent back to the country from diaspora in 2018,

Read More Here >>>http://www.cyberyoast.com/libra-the-supposed-new-paypal/

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