An Introduction To Facebook’s Libra
By Mara Hart on ALTCOIN MAGAZINE
Since the June 18, 2019 announcement, the tech world has been in an uproar. Lawmakers suddenly care about cryptocurrency. There’s already been a scam involving Calibra — Facebook’s wallet for Libra.
If there’s this much controversy, what does it mean for Libra? Is it good or bad? Chances are if you’re reading it, you’re just as clueless as I was when I first heard of it.
What is Libra?
Facebook’s Libra is quickly taking over the cryptocurrency despite their official announcement being June 18, 2019 — an infant compared to Bitcoin’s decade.
According to the Libra White Paper — an informational document that establishes Libra’s mission and strategy — , Facebook wanted to create a currency that (1) no one is controlling, (2) anyone with internet can use, and (3) funds cannot be stolen. Though other cryptocurrencies have these three features, Facebook wants to make cryptocurrency mainstream.
The three parts of Libra that created a more inclusive financial system was that (1) it’s built on a reliable blockchain, (2) backed by a…
