Everything You Need to Know About Facebook's New Upcoming Cryptocurrency
June 25, 2019
Facebook has just revealed that they are working on releasing a new cryptocurrency to the market of digital currencies. This cryptocurrency is known to be as Libra and is expected to launch publicly to the market sometime in the beginning of 2020. To confirm this, Facebook has already created their own White Paper on Libra, which speculates everything that the public needs to know about this currency. Once it’s published on the White Paper the information in there cannot be undone.
Click here for the link to Libra’s White Paper
Facebook’s new cryptocurrency will be having partnerships with many of the big known companies such as Visa, PayPal and Uber so this will help boost their currency out to the market very effectively. What’s great about Libra is it will let you purchase things or transfer funds to people with nearly no fees at all! Libra will also be available at local exchange points such as grocery stores to be able to cash out your Libra online. Facebook has confirmed that it will have its own Calibra wallet that will be built into Facebook messenger and WhatsApp as well. With this, it will increase its awareness of the currency drastically through international countries like Oman. Majority of the population in Oman use WhatsApp as a source of communication, and by having Libra be built into WhatsApp can be quite effective for the sake of awareness. Not only that, Libra will also be used to spend using other third-party wallet apps which will help increase flexibility when using the currency and to be used in the most efficient way without any complication. Facebook did not confirm if whether Libra will be available in the United States only or whether it would be available for use internationally. Cryptocurrencies are seen as the future of currencies and since many are not yet aware of the idea of digital currencies, by having safe online transactions between corporates and individuals here in Oman and other international countries can help push the awareness of cryptocurrencies out there. We are hoping to get more news of that sometime soon.
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