Apr 23, 2020
Binance Research: Libra May Change Payment Industry
By Marko Vidrih on The Capital
A Binance Research report says that the launch of the Libra crypto project could dramatically change the international payment infrastructure.
Researchers compared the creation of a new payment network with the advent of SpaceX, which has revolutionized the space industry.
Recall, in the middle of last year, Facebook announced the launch of its own digital currency, Libra. After that, it was stated that, especially for the token, developers will create a whole infrastructure for processing payments.
In parallel, the founder of Facebook Mark Zuckerberg emphasized that the launch of Libra will take place only with the approval of the central banks.
Analysts at Binance Research note that if the platform for operations with Libra is really launched, the financial sector will become more productive. Cross-border transfers will be simplified and accelerated, and transaction costs will be reduced.
The Libra project will be global; its participants will be the central banks of the leading countries of the world, the authors of the report say.
Author: Marko Vidrih
Featured image credit: Pixabay
