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Monday, June 17, 2019

FACEBOOK SET TO REVEAL DETAILS ABOUT IT CRYPTOCURRRNCY



Facebook, the world’s biggest social network is expected to launch it's cryptocurrency payments into the mainstream, reportedly with the endorsement of governments and financial giants.

Facebook is ready to reveal details about its cryptocurrency codenamed Libra tomorrow, June 18, which include the release of a white paper explaining its cryptocurrency's basics.

According to a source, multiple investors including Visa, Mastercard, PayPal and Uber has teamed up to join the launch of this GlobalCoin.


The release of Libra represents Facebook’s boldest foray into financial services, and the social media giant hopes it will give an opportunity to the “1.7 billion users globally” who are “outside of the financial system with no access to a traditional bank.”


Facebook also notes that while some cryptocurrency projects have aimed to “disrupt the existing system and bypass regulations,” the firm believes “collaborating and innovating with the financial sector, including regulators and experts across a variety of industries, is the only way to ensure a sustainable, secure, and trusted framework underpins this new system.”


We bring you more details about Libra launch tomorrow.


Source: Techcrunch, punchnews.


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