Cryptocurrency has been a huge controversial topic of conversation over the past few years. The block chain technology has promised a much higher level of security and a better foundation for payment options overall, but many have been reluctant to invest. Dennis Schaal provides some insights into Facebook’s new Libra venture, how it could disrupt current payment models and explains why Facebook has taken a marketing approach to a currency problem while keeping the ethical and regulatory requirements filled.
- A digital wallet to support the Facebook cryptocurrency, Libra, has been launched on Tuesday , and the wallet is called Calibra.
- The Libra Association will be setting up the cryptocurrency Libra and it is set to launch in 2020 while positioning itself as a cryptocurrency open to regulation.
- Bookings Holdings believes that Libra will solve a problem in the market which has lots of fragmented payment systems in the online world.
“Libra, which will be backed by “a reserve of real assets,” will collaborate with regulators, and has the support of MasterCard, Visa, Paypal, Booking Holdings, Uber, Lyft, and Spotify, among others.”