Facebook announces Crypto Currency "Libra" and Digital Wallet "Calibra"

Facebook announces Crypto Currency "Libra" and Digital Wallet "Calibra"

On June 18 (local time), the United States of America announced the new cryptocurrency "Libra" and the digital wallet "Calibra" for exclusive use. It will be offered from 2020 and is expected to be able to use the service with Facebook Messenger and WhatsApp as well as a single application (Android / iOS).

Libra is a cryptocurrency that uses blockchain technology developed by Facebook. MasterCard, Visa, PayPal, Stripe, eBay, Uber, Lyft, Spotify and others have announced support.

The service area has not been announced yet. The FAQ said that I would like to offer as broad as possible.

Facebook is a statement, and Calibra's goal is to make basic financial services available to people who can not have a bank account. "About half of the world's adults do not have bank accounts. More in developing countries, more in women."

Calibra brings Libra to smartphones. A plan to scan coffee and make it possible to buy coffee and use public transport.

A government issued ID is required to apply for use. Facebook, which has a bad reputation for handling user data, has published a manual about privacy at Calibra.

Facebook launched an independent organization, the Libra Association. The organization is based in Geneva, Switzerland, and manages Libra's network and currency. There are 28 companies participating at the launch stage, and at the launch of Calibra in 2020, there will be more than 100 members. Facebook participates as a member of Libra Association with the same rights as other members.

 It also uses the same level of technology to protect data like banks and credit card companies. Calibra will refund the user if the third party accesses the user's account and the balance is affected.

 "It's the beginning of an exciting journey. We look forward to sharing more information," said Mark Zuckerberg, Facebook CEO of Facebook.