Facebook Announces Its Libra Cryptocurrency And Wallet. As Facebook was rumored to bring its own cryptocurrency. Now, stepping into the all-new crypto world, Facebook has finally made its Libra Cryptocurrency officially.
Based on blockchain technology, Mark Zuckerberg-owned company has officially brought its cryptocurrency wallet called Calibra for its Libra cryptocurrency.
The reason behind launching a new digital crypto wallet by Facebook is to allow users to save as much as they can, along with the ability to send, receive and spend virtual money as transaction.
Users will be able to send Libra via the Calibra app with ease in a few minutes and will eventually be able to conduct various purchases such as buying stuff by scanning QR code paying bills, and more.
Calibra will follow various privacy steps such as verification and anti-fraud steps, much like banks, to maintain the safety of users. Additionally, Calibra will make sure it doesn’t share users’ information with other apps without his or her knowledge, which becomes a must after all the data breaches Facebook has been a part of.
As told ealier, Facebook has partnered with various financial institutions as co-founders for its crypto project, such as MasterCard, Visa, PayPal, Stripe, eBay, Spotify, Uber, Lyft, Vodafone Group, Andreessen Horowitz, Facebook, and more.
With the newly announced cryptocurrency and its wallet, Calibra will be available as a separate app and on Facebook Messenger and WhatsApp, starting in 2020.
Facebook, since rumours came concerning cryptocurrency, has been banking high on the new arena and with its official announcement, the new wallet is there to help attract more people and this could also compete with Google Pay and more.
In conclusion, until the changes over the internet is what’s going to determine how the future of Facebook’s Calibra is going to look like in the cryptocurrency market. Facebook Announces Its Libra Cryptocurrency And Wallet.
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