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When bitcoin skyrocketed in price, the whole world was in a fever of cryptocurrencies. Many have tried to make a blockchain-based virtual coin. When bitcoin collapsed, the homegrown “crypto” didn’t justify itself, and the miners began to sell their farms, there was less news about the blockchain. But, the topic has not died and what is called “big fish” remained in it. And now Facebook* is launching its own virtual coin.
Price and release date in Our Country of the Libra cryptocurrency
Facebook*’s own cryptocurrency called Libra will be unveiled on June 18th. But Libra (this is how Libra is translated from English) will not be launched until 2020. It is planned that the economy of the currency will be decentralized and neither Facebook* nor investor companies will be able to directly control it. The initial course and mining methods are also still unknown. Initially, users from the USA, Great Britain and the European Union will be able to use the “crypto”. In the future, it should be extended to all countries where Facebook* services are available.
Overview of Libra cryptocurrency
The cryptocurrency, which Facebook* calls stablecoin (stable coin), is being developed in secrecy, so there are not many details about it before the presentation, but something is known. Firstly, they promise to tie Libra to the exchange rate of baskets of currencies of various countries, which means that it will have a kind of protection against feverish jumps. Secondly, Facebook* plans to use its own virtual currency to become more independent from regulators.
Interestingly, the project partners are the traditional payment systems Visa, Mastercard, PayPal, which have invested $10 million in the project.
The stability of the new cryptocurrency should attract users from developing countries, where it has every chance of becoming a supranational payment instrument. True, provided that local governments do not resist this.
Now Facebook* already has 2,4 billion active users every month. They will become the initial base of the new cryptocurrency. In addition, users of Instagram*, WhatsApp messengers and Messenger will also be able to use Libra. Facebook* is going to establish partnerships with large online trading platforms, where they can also use cryptocurrency.
According to other sources, Mark Zuckerberg’s company is now developing physical terminals that resemble familiar ATMs, through which users can convert their money into Libra and vice versa.
* The American company Meta, which owns the social networks Facebook and Instagram, was recognized as extremist in the territory of the Federation (decision of the Tverskoy Court of Moscow dated March 21.03.2022, XNUMX).