Facebook has finally announced Crytocurrency, Libra which enable you to send money and buy things with nearly zero fees.
What is Libra?
Libra is a new type of digital money designed for the billions of people using it’s app and social network. Facebook won’t fully control Libra, it will be handled by Facebook’s subsidiary company Calibra. It handles its crypto dealings and save user’s privacy by not mixing your Libra payments with your Facebook data.
Libra is coming to market with a lot of powerful players behind it. Initial members of the foundation are @facebook and 27 other parties including, VISA,Master Card, Uber , Pay Pal etc. in addition the company also announced a new digital wallet called Calibra.
Libra is a medium of exchange where users can send money and house transactions. Bitcoin has been regarded as more of an investment and store of value. The price of libra is likely to be more stable than bitcoin since it is backed by a reserve fund.