- Facebook supports Libra coin.
- All Facebook users will have access to it.
- Facebook not in control of this coin.
Facebook coming up with crypto?
Facebook has secured the complete data with backup. One can see upcoming Libra, this is the cryptocurrency which is going to be announced next week from facebook. The major organizations like visa and master and not to forget PayPal are also going to support this. This is something that will be governed by an independent consortium which will not have Facebook in control. This will be considered as a digital coin independently and this is a very good move and people will surely love it. There are so many people on Facebook who are going to have access to this.
Major firms like master and visa are very interested and are providing a cheaper alternativefor digital payment to these networks and this is going to be the future. If you talk about Facebook, there are totally Facebook’s 2.4 billion users, which is a huge number and all of them are going to have access to this currency and that is a big step in this direction.
It is a very good step that an independent authority is set up to manage this thing. This will not allow Facebook to be in control or we would again go back to the older options again. Always one should understand that it is important to take care of things and keep it completely decentralized.