Anybody who has ever watched price of the bitcoin bucking or rearing in the recent years—and know Facebook getting attacked for handling private data—may be surprised to know that this social-media giant now is releasing own digital currency. However, such is Libra and Facebook will launch the currency very soon in first half of the next year. Suppose all goes as per the plan, Libra is bought, sold, sent and received in firm’s apps, WhatsApp and Messenger, and rival ones. The tap on smartphone can make the money change hands instantaneously, even though sender & receiver are on the different sides of this world.
Is it reliable?
This technique in which Libra gets backed gives intrinsic value. However, very importantly, reliability of the price stability will be used for the daily purchases of the goods and services with no risk of the significant price change. It means that this has got the functional value since both the method of payment and store value savings. It’s very important to note there is minimal room for the speculation on the Libra’s future growth of price potential. As it is made to be very stable, it’s assumed not to appreciate in the value like bitcoin and other speculative cryptocurrencies.
Bitcoin and Its Implications
Initially, Libra gets acquired by the end users just by exchanging the local fiat of Libra. This will be performed by ATMs placed in the local markets, and participating merchants and through Facebook’s Wallet.