Facebook’s Very Own Cryptocurrency System

Libra is Facebook’s cryptocurrency system. The finance software allows users to buy items, as well as send virtual money to contacts. It is ensured that there will be nearly zero fees for every transaction. Libra is available for local exchange points spots. Anyone with a Libra account can transact on grocery stores and use their personal, interoperable wallet apps such as Facebook’s Calibra. Even WhatsApp and Messenger users can connect with Libra’s services. The cryptocurrency system is governed by the Libra Association and other venture capital firms for full transparency. It aims for a simplified global currency as well as improved financial infrastructure. The main target consumers of this system are unbanked users.