Facebook libra is built on an open source Blockchain called Libra blockchain for the sake of its safity protocole.
The Libra mission is to reinvent money and transform the global economy so people everywhere can live better lives.
Facebook teams played a key role in the creation of the Libra Association and the Libra Blockchain, working with other founding members. Last month, Facebook made headlines when they announced their plans for Calibra.What is Calibra? Calibra is a new department of Facebook that focuses only on the financial services andthe utilization of new digital currency,made by Blockchain, called Libra.Facebook has finally revealed the truth and details about its cryptocurrency, Libra, which will let you buy anythings you want and send money to people every where with more likely ZERO Fees.
Facebook will not fully control Libra, but instead will just get a single vote in its governance department like other founding members of Libra Association, including Visa, Uber and Andreessen Horowitz, who have invested all most 10 million dollars each into the project’s operation.But more likely may be Facebook will gona be the chair person of Libra Association because Facebook has more than 30 percent of the entire world’s population estimated 2.38 billion people as its users and the rest of the population they are simply down to two key things on why they do not have any Facebook account: and has no access to internet connection or freedom of choice to talk on different matters openly.
The digital coins are essentially stable coins as they are pegged to governmentely issued currencies such as ($)USD, (€) EUR,(S$ or $) SGD, etc. Many of those decentralized cryptocurrencies like Bitcoin or Ethereum, are volatile in their valuation. Facebook seeks to create a more stable cryptocurrency to encourage that it is the means of facilitating ordinary online consumer transactions.
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