Facebook plans its own currency for 2 billion-plus users - News Summed Up

Facebook plans its own currency for 2 billion-plus users


Creating its own globe-spanning currency — one that could conceivably threaten banks, national currencies and the privacy of users — isn’t likely to dampen regulators’ interest in Facebook. The digital currency, called Libra, is scheduled to launch sometime in the next six to 12 months. Calibra pledges that it won’t share transaction data from details of Libra user’s financials with Facebook unless compelled to do so in criminal cases. Calibra won’t require users to have a Facebook account to make a free wallet. Libra partners will create incentives to get people and merchants to use the coin.


Source: thestar June 18, 2019 09:22 UTC



Loading...

Loading...