After Bitcoin, which faced certain lows and highs on its journey till now, Facebook is going to launch a new Cryptocurrency known as Libra,probably in 2020. Though there are several other cryptocurrencies like Litecoin and Ethereum, Bitcoin has received the most attention from the entire world. Crypto enthusiasts believe that these cryptocurrencies and their blockchain technology have a long way to go in the future!
What is Libra?
Libra is a digital currency, based on a new programming language created by Facebook called Move. It is managed by a non-profit association named ‘Libra Association’. The founding members of the association involve the representatives of PayPal, Spotify, eBay, Uber and Visa and each of them has an equal say in making the policies and decisions of the currency.
How is Libra beneficial?
To make a common currency available for everyone and turn ‘the internet of money’ into a reality, Libra is used. It makes it possible for people to transfer, receive and send money with just a click!
Where is Libra stored?
Like all other cryptocurrencies need a wallet, Libra will also be storedin a wallet named Calibra, and it will also be launched by Facebook. The wallet is predicted to be installed as an app or can be included with the Facebook and WhatsApp messenger making it easier for people to communicate and send money from the phone.
With technology paving paths in our lives, things are getting easier and convenient with each passing day!
