It is no secret that Facebook has been expected to launch its cryptocurrency sooner than later. Finally, making the bold move into the crypto scene, Facebook’s Libra Cryptocurrency is no longer a rumor again as the project has been confirmed.
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Libra Cryptocurrency And Wallet
The Mark Zuckerberg-owned company has started a cryptocurrency wallet that is termed “Calibra” for its Libra cryptocurrency, based on blockchain technology. Now, we will tell you what we know so far on the massive project from the social media giant.
Following the news of its cryptocurrency, Facebook has been banking big on the new platform. Now that the announcement is official, the brand-new wallet will attract users and also compete in the crypto scene.
What Can Users Expect from Calibra?
The purpose of introducing the latest digital crypto wallet is to enable users to maximize their savings potential, coupled with the unrestricted ability to send, receive and spend virtual money. However, that is not all that users can do because of this digital wallet.
Users can also send Libra through the Calibra app without difficulty and waste of time, ultimately being able to conduct multiple items purchases like buying stuff by scanning QR code paying bills, and other everyday transactions.
Calibra will support various privacy measures that include verification and anti-fraud procedures, just like banks, to sustain the security of its users. It will also ensure that it does not share users’ details with other apps outside their permission.
Calibra collaborated with several financial institutes as co-founders for their crypto project. Some of them are MasterCard, Visa, PayPal, Stripe, Uber, Lyft, Vodafone Group, eBay, Spotify, Facebook, Andreessen Horowitz, among others.
How will Facebook’s Libra Cryptocurrency And Wallet Fare?
Calibra is expected to be ready as an independent app and on Facebook Messenger and WhatsApp, as soon as 2020. Nevertheless, right now, no one can correctly predict the success of Facebook’s Calibra in the existing crypto business.