Editorial & Review Staff

Editorial & Review Staff

Editorial & Review Staff articles have been checked and revised.

Share This Post

What is Libra?

Facebook says Libra is a “global currency and financial infrastructure”. In other words, it is a digital asset built by Facebook and powered by a new Facebook-created version of blockchain, the encrypted technology used by bitcoin and other cryptocurrencies.

Why is it called Libra?

The name Libra comes from the basic Roman measurement of weight. The abbreviation lb for pound is derived from Libra, and the £ symbol originally comes from an ornate L in Libra.

Why is Facebook launching a cryptocurrency, and are they allowed?

Facebook claims it wants to reach the 1.7 billion people around the world who do not have access to a bank account.

The company is likely to run into regulatory hurdles and antitrust concerns, especially at a time when many regulators want to break up Facebook, but no specific legislation has been put forth ahead of the launch. Amidst rumours of Facebook’s new financial expansion, members of the US Senate wrote to CEO Mark Zuckerberg in May asking for clarification on privacy concerns.

Checkout the following infographic on – Libra: Cryptocurrency By Facebook – Developed by MrBTC.org.

If you enjoyed this article please share it for others to read

Articles reflect the author's own opinion.

In any circumstances can CCG be responsible for potential losses regarding investments or services, either referenced by the author in the article itself or by any links provided.

This platform is intended to share educational knowledge, open for several external author's and in no way represents any financial advisement.

Editor Note

Leave a Reply

Your email address will not be published.

Recent Articles

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore

Do You Want To Boost Your Business?

Send us a Press Release or article about your business

Have a new token to present? Some interesting project that uses blockchain? Or maybe one idea you'd like to write about? Share it to the world here.