Facebook's Libra Has Shook The Financial World. Banks Rush To Issue Cryptocurrencies

Experts say that Facebook's Libra will probably not reach the billions they claim, and it won't affect the financial world and stability in general. However, while everyone is talking about Libra, banks are developing their own digital currencies.

Since Facebook announced it's Libra Project, we have seen many talks in the media about it. The cryptocurrency has been analyzed from A to Z, and everyone seems to want an opinion on the subject. Writers are trying to understand how the currency might actually be used and by who or whom. It is clear that in developed countries Facebook's Libra won't gain much traction as every citizen's financial life is more or less set with ease. Everyone can already pay with contactless cards or QR codes, store their money in a secure bank and transact it fairly quickly. At least that is what it seems. It should be particularly hard in these countries for Facebook to introduce their cryptocurrency as something advantageous to their current currency.

Read more: https://www.coinspeaker.com/facebooks-libra-banks-cryptocurrencies/