What is Facebook Money/ Coin LIBRA? And How it works?

What is Libra?
Libra is a stable-coin, meaning that it always will be $1 and not volatile like Bitcoin. Expected to be launched in 2020, Libra is a blockchain-based digital coin that will let Facebook users to send and receive money or to pay for services. The goal is for Libra to be used outside of the social network as well: Consumers may eventually be able to use it to pay for a cab or a cup of morning coffee.

What are some other use cases?
What’s most likely is that Libra coins will initially be used to store the savings of people in emerging economies that suffer from high inflation, such as Venezuela. Traders may also exchange Bitcoin or Ether for Libra in times of high volatility for crypto.

Facebook announces crypto money, FB’s stocks jump, crypto bulls are more bullish than ever

CNBC is reporting that: Facebook’s stock rose 4.2% Monday as investors anticipate the company’s entrance into the hot cryptocurrency space. According to reports from The Wall Street Journal and elsewhere, Facebook has partnered with companies like Uber, Visa and PayPal to create its new cryptocurrency called Libra. The initiative is run by David Marcus, the Facebook executive who previously ran Facebook Messenger. He was the president of PayPal before joining Facebook.

“We believe this is a major initiative for Facebook, and one that has the potential of putting the company front and center in areas beyond advertising, including commerce and financial services, materially expanding its total addressable market and growth prospects,” analysts at SunTrust said in a research note this week.

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Mohsen Daemi
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