Facebook launching Libra Crypto 'Stable-Coin' in 2020 for 2 billion active users for global mass-adoption

soulra1ser (41)in #libra • 5 years ago (edited)

Facebook and big corporations like PayPal, Stripe, Visa, Ebay, Spotify & Vodafone etc are teaming up by planning to launch their own crypto-currency called "Libra Coin" in half 2020 to bring financial services to billions of people and to those that don't have a bank account yet. Its a Stable Coin backed-up by fiat currency and Open Sourced under Apache 2.0 Licence. The programming language is called Move to implement smart contracts and with LibraBFT consensus blockchain protocol that will be run by decentralized independent server nodes. The Calibra Crypto Wallet will be integrated into the non-open-source WhatsApp & Facebook Messenger apps. Calibra will also be available as a standalone app in the App Store and Google Play. They say on Calibra website if don't have Facebook, WhatsApp or Facebook Messenger then need verifying your identity using a government-issued ID. The Libra Blockchain is pseudonymous. While Facebook is violating our privacy by making secret profiles from everyone collecting our data and selling all our private data to the highest bidders to governments, corporations and advertisement companies etc. Everything that's on the blockchain will be permanently stored. Also if you have don't have a Facebook account they still collecting your private data. They have 2 billion active users. Will Libra Coin hit a total Market Cap of tens or even hundreds of billions of Dollars and compete directly with Bitcoin and Ethereum? Also how about the transactions per second(TPS), will they do thousands or even millions transactions per second to scale with mass-adoption?