Facebook launch cryptocurrency libra

in libra •  last year  (Edited)

calibra.png

Hello Steemit friends, so facebook yesterday announce they are launching their own cryptocurrency called "libra" on the libra blockchain, they will also have a new wallet called calibra

libra blockchain detail and whitepaper see here:
https://libra.org/en-US/white-paper/#introducing-libra

Calibra wallet see here:
https://calibra.com/

So what does this mean and how does it work? Because facebook having more than 2 billion user on facebook and whatsapp, they can integrate the calibra wallet into facebook and whatsapp and allow 2 billion people to send "libra coin" instantly via whatsapp or facebook, when user deposit fiat to them, the libra blockchain will create libra coin for them and when user withdraw fiat from them, libra blockchain will destroy the coin

So can you make money buying libra coin? the answer is no because libra coin is peg to US dollar 1 to 1 so the value of libra coin will always be 1 USD, but what does this mean to the crypto world? because facebook are bringing in 2 billion people to crypto world and when all of those people discover they can buy bitcoin with 1 click of a button, bitcoin price will go up dramatically, it is a natural choice since libra coin cannot go up in value and only bitcoin does

the other thing is that libra coin will basically killing all the bank business so bankster will try their best to stop facebook, just wait and see how it goes

but they will only launch it one year later so there are still plenty of time

thanks for reading

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