This technological marvel presents itself as a simple global currency and financial infrastructure, serving to empower billions of people worldwide.
Meet Libra Coins, money reinvented and transformed for the better of economy and people worldwide.
Libra was created with the goal to make it available to everyone. Why should transacting worldwide take up time and cost us valuable money? The creators of Libra asked this too. That’s why they created Libra with the aim to make moving money around the world as simple as sending a text message.
What is Libra?
On June 18 2019, Facebook came together with 27 organizations worldwide to create a non-profit association and a new currency called Libra. Slated to be launched in 2020, Libra is a cryptocurrency powered by blockchain technology, aimed to bring unmatched convenience to people’s lives around the world.
With Libra, we won’t need to carry insecure cash around anymore, nor will we have to pay sky-high fees on simple transactions. This is especially a benefit to those who do not have access to traditional banks or financial services. It is believed that there are around 1 billion people in the world right now who have a mobile phone but don’t have a bank account.
No Credit Card, No Problem
An independent subsidiary, called Calibra, will be launched by Facebook to let users send, spend and save Libra. The first step forward will be a digital wallet coming to WhatsApp and Messenger soon, as well as a standalone app by itself.
Do you find it a hassle to carry out regular transactions such as paying the bills or buying coffee? Are you a businessperson who is constantly having to grapple with the complications of new technological advances? The new Calibra will enable anyone with a basic smartphone to send and spend Libra at low to no cost. Whether you’re sending or receiving payments, you’ll be able to do it as easily as pressing a button.
- It’s accessible. Anyone with an entry-level smartphone and data connectivity will be able to use it.
- It’s stable. Those who fear investing in currencies only for them to come crashing down need not worry when it comes to Libra. Backed by a reserve made to keep its value stable, Libra is unshakeable and here to stay.
- It’s quick. Designed to be known for its quick and easy transactions, Libra makes it hassle-free no matter where you are sending or spending your money.
- It’s global. Do you live in an international country or want to spend your coins regardless of borders? Libra allows you to do that whether you’re transacting with a local party or internationally. Don’t let your country be a barrier between business.
- It’s scalable. Regardless of what you’re purchasing, Libra’s special ecosystem of products and services will allow you to use the currency from the largest of transactions to small, everyday amounts.
- It’s secure. Unlike fiat money, Libra is not issued by any government and thus isn’t tracked to your identity. It’s designed to be a cryptocurrency built on a blockchain with your security in mind.