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Review on Libra by Roger Sandoval
Facebook's cryptocurrency project - Libra
Facebook gets into banking: Libra will be available for Messenger and WhatsApp users around the world, and anyone who downloads the (yet-to-launch) app.
Facebook says it has the lofty goal of bringing financial services to the 1.7 billion around the world who still don’t have bank accounts. Libra will let you send money to almost anyone with a smartphone, as easily as a text message and at “low to no cost,” Facebook says.
The Libra team will be governed by a nonprofit foundation called Calibra, based in Switzerland. Facebook already has backing for the project from 27 organizations, including Uber, Visa, Spotify, Vodafone, Mastercard, and nonprofit Women’s World Banking.
Facebook says it a “new global currency powered by blockchain technology.” But it won’t be truly decentralized (only certain members will be able to process transactions), so Bitcoin purists probably won’t count it as a true cryptocurrency.
All we will know about libra after its exact launching and how its perform in market.
Updated 5 years ago
Rating has not been changed
After the announcement of Facebook's libracoin Launching, Many countries are forcing libra team to close its project and many countries banned it before its launching. Libra faces huge regulatory issues from most of all governments.
Pros
- Libra has a great concept and cryptocurrency supported by Facebook Inc.
- Libra can be accessible to anyone with smartphone and internet connectivity.
- Libra is a stable cryptocurrency and is 100% backed by various fiat currencies.
- Libra transactio spped is very fast and as other cryptocurrencies, it provides boundryless payment features.
- Libra is very secure because its a cryptocurrency that runs on blockchain.
- Libra is a global cryptocurrency that will be available around the world.
- Libracoin send and recieve medhod is as easy as sending a text message.
Cons
- For purchasing Libra using fiat or sending and recieving libra you need to verify KYC procedure.
- As libra is not fully launched yet so, maybe some drawbacks will show after launch.
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Comments (2)
June 21, 2019
Facebook Libra project is works as marketing of cryptocurrencies and blockchain technology...
June 18, 2019
Whatever say a crypto-enthusiasts on the ideals of Libra, the most important thing in this story is that Facebook will significantly increase the audience in the Crypto Community.
An incredible number of users will soon check out what is a Cryptocurrencies and how do they work!
