Facebook Libra – the cryptocurrency arms race has begun…

Facebook announced the launch of Libra, a new digital currency that aims to transform how we pay and transfer money.

Calibra, Facebook’s Libra ewallet, has the potential to shake the entire payments industry through its scale and value.

However, Libra faces multiple challenges, including regulatory hurdles and Facebook’s chequered past with privacy and data security.

The Libra Association’s Founding Members

Since Bitcoin’s 2008 whitepaper, digital currencies such as Bitcoin and Ethereum have enjoyed a rollercoaster ride when it comes to value and publicity, with new coins entering the space as fast as they leave. However, no coin to date has permeated into our everyday lives. But Libra changes everything. On the 18th June 2019, Facebook announced the launch of Libra, a new digital currency, by the first half of 2020. It aims to allow frictionless financial transactions between billions of users around the world.

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