RATE Group | Facebook’s Libra: Questions Answered – BORGEN
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Facebook’s Libra: Questions Answered – BORGEN

04 Nov Facebook’s Libra: Questions Answered – BORGEN

Posted at 02:04h in Cryptocurrency News by

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SEATTLE, Washington — The world of money is changing rapidly as digital finance becomes the new norm. However, economists and governments throughout the world still don’t know what role cryptocurrency may play in this digital shift. Facebook plans to launch the Libra in 2020. Many, including the U.S. government, are deeply concerned about what ripple effect this new currency could have on the world. Here are important facts to know about Facebook’s Libra and the controversy behind it.

What is Facebook’s Libra?

Libra is a cryptocurrency created by Facebook. While Facebook developed Libra, it will not govern it alone. Instead, 28 organizations, including eBay, Uber, MasterCard, Visa and PayPal, have partnered together and formed the Libra Association in order to govern Libra and oversee its launch. Facebook aims to partner with 100 organizations by the time of its launch.

The Libra Association will be considered an independent nonprofit with headquarters in Switzerland. In…

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