Finally, after such long discussions, Facebook has officially introduced its new currency called libra coin. The libra coin will get launched in 2020 or maybe after that but it will be a digital currency, or we can say it is a stable coin but the main feature of this coin will be that it will not fluctuate as other coins did. Hence, a very good decision has been taken by the founder of Facebook to take the digital currency namely libra coin into the market.
Many of the articles are being published into the newspapers of the worldwide newspaper companies, and they are printing big pages for mentioning the Libra in their section. Totally more than 20 partners are being attached to this project. Now further we are going to discuss more on Libra coin and will know what the benefits of the same are.
What is a libra coin?
The libra coin is a type of digital currency which is being introduced by the owner of Facebook. The cryptocurrency will be responsible for all the online transaction being done on the specific platforms. The transaction carrying out will be an easy process after the introduction of the Libra.
Advantages of the Libra coin project:
- It will be a very good block-chain which is very efficient and fast but will be permission less platform.
- It will be a global currency and any individual can use it for completing their daily needs or requirements.
- Its value will be stable as it is a low-volatility financial asset. Hence, this will be an advantage for a user as it will not give the chance of losing the money.
- The platform which Facebook is going to create for Libra will be open and anyone can use it very easily.
- The transactions carrying with the procedure will become very easy after the launching of Libra coin.
- It will also create a wallet which will be open for any individual but it has to be provided with an ID.
- Hence, a very good opportunity for Facebook itself and for the customers who want to do the transaction in the digital currency.
The terms and conditions for the same:
To launch this type of big currencies the license or the permission has to be taken by the officials. As millions and billions of users will use, it and hence the security will be the main concern. So the company is deciding to take a license from calibra which will be fully compliant with the law. Hence, before the official launch of the digital currency, the entire license which is necessary will be taken by the company definitely.
- After the whole research, we have come to the conclusion that the currency will be very beneficial for people all around the world.
- The steps have been taken by Facebook has to be very efficient and careful to run the project efficiently.
- Although the experts are being attached to the production of the project in the launch and after that. But still, the daily update has to be taken by the officials to ensure about all the things being done.
- Even the CEO of Facebook Mr. Mark Zuckerberg is personally attached to the project and looking for all the things being done in it.
Hence, the libra coin is going to be very popular among the people. The launch of the same will be very huge from the side of the company. But the success of the same will depend upon the features it will provide to the people and the security of their currency.