​​💰 Libra: Facebook confirms its cryptocurrency launching in 2020

#Libra is designed not to be a speculative asset, like #Bitcoin, but a form of digital money backed by a reserve of assets.

The company has formed the nonprofit Libra Association with 27 other partners to oversee Libra and its development. The partnership includes venture capital firms, nonprofit organizations, #cryptocurrency firms, and massive corporate financial, telecommunications, and technology service providers, including #Coinbase, #Mastercard, #Visa, #eBay, #PayPal, #Stripe, #Spotify, #Uber, #Lyft, and #Vodafone.

While the Libra Association will have members based globally, it will be headquartered in Geneva, Switzerland🇨🇭

Facebook has a business incentive to build on top of the Libra #blockchain, and it’s launching its own subsidiary to do just that called #Calibra (see the GIF below - Credit: Facebook). According to Kevin Weil, Facebook's VP of Product, Calibra will live inside of Facebook Messenger and WhatsApp at launch, but will also have a standalone iOS and Android app.

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