USNMix Report: Facebook's
digital currency Libra will come soon,
earning opportunity.
earning opportunity.
Social media platform
Facebook recently announced the launch of its digital currency
Libra. Facebook claims that the Libra will not only be used globally but, it
will give a boost to e-commerce and will also get more earning opportunities
through advertisements. Facebook has partnered with 28 companies including
PayPal, Uber, Spotify, Vodafone for digital currency Libra.
Facebook also prepared the
governing body of currency
Facobook is continuously
working to launch Libra. Facebook has also prepared the governing body of the
currency and has formed a council for this. The official names of 21 members of
the Libra Association were officially signed for the Libra. The Libra
Association said that in addition to 21 companies for digital currency, 180
other firms and companies have also shown interest in it.
All information will be safe
At present, Facebook is
going through a legal process regarding its privacy. Facebook, which is already
facing the controversies of data privacy, is going to create currency due to
which the privacy of bank, national currency and users can be threatened.
Although Facebook says that it will protect all the information related to the
bank details and payment of the user. Facebook says that their digital currency
Libra will work on blockchain technology. Through this, people will be able to
transact money, make money transactions easily.
Common man will also use
Libra
Facebook says that
blockchain technology will be released to the general public by next year.
Blockchain can be used on all platforms of Facebook Messenger, WhatsApp and
Instagram. The user's data will be safe in this.
Advantage of Libra
- Money can be transacted on
Facebook Messenger and WhatsApp.
- Digital currency
transactions can be tracked through digital wallet app.
- There will be no extra
charge on the transaction of digital currency.
- As cryptocurrency people
will be able to buy and sell Libra.
- It will also be able to
exchange with traditional currency like rupee, dollar.
Digital currency
Digital currency itself is
called cryptocurrency. You cannot see or touch this currency like rupee or
dollar. Cryptocurrency is not printed. It is a virtual currency that can only
be felt and can be used for transactions. It is an independent currency. No government
or bank owns it. However, it can be used to buy and sell goods or services.
Ban is in India
Some time ago cryptocurrency
bitcoin came in quite a lot of discussion. It is not discussed in India because
the Reserve Bank of India has banned cryptocurrencies. According to the
proposal of the ban on crypto currency and the draft of the official Digital
Currency Bill, 2019, those who buy and sell cryptocurrencies in the country
will get a 10-year prison sentence.
Comments
Post a Comment