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Facebook announces Libra cryptocurrency

Facebook has just announced its new cryptocurrency, which is to go by the name Libra. Facebook subsidiary Calibra will be managing the cryptocurrency with some partners, including Mastercard, PayPal and Visa.

​While Libra will have its standalone app, but the digital currency will also be available on Facebook Messenger and WhatsApp. A launch is expected to take place sometime in 2020, though no specific date was given. Facebook also assured that Libra will be strongly protected and feature some of the strongest anti-fraud mechanisms used by financial institutions.
On the privacy issue, Facebook stated that Calibra will not share account information or financial data with itself or other third party entities without express permission from users.

Source: Coindesk

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