RATE Group | How Facebook’s Cryptocurrency Libra Poses A Serious Threat To Developing Countries’ Sove…
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How Facebook’s Cryptocurrency Libra Poses A Serious Threat To Developing Countries’ Sove…

16 Oct How Facebook’s Cryptocurrency Libra Poses A Serious Threat To Developing Countries’ Sove…

Posted at 15:47h in Cryptocurrency News by

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Despite some big names ditching the Libra Association, Facebook went ahead and launched a new digital currency called Libra.

Out of the 27 potential members, several like Paypal, Visa, Mastercard dropped out, and the Libra Association on Monday formally signed on 21 members in Geneva. The association is a non-proft body that will govern the currency.

Uber, Lyft, Spotify and Vodafone are some of the association’s members, apart from several venture capital firms. The Association claims that 180 other entities have also expressed the interest to join.

Francis Ang, founder and CEO of Kozjin, called the launch of Libra “massive for the blockchain and cryptocurrency industry”.

“Their aim is to build a payments network by creating an online ecosystem on which users can buy things and pay each other. Facebook has a relationship with seven million advertisers and 90 million small businesses—we can only imagine how huge the Libra community will…

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