Facebook Libra Bitcoin

Libra is potentially one of the most positive. Like bitcoin libra will be based on blockchain technology.

Libra Coin What You Need To Know About Facebook S Answer To Bitcoin

Despite many leaks reports and rumors we are yet to get an official statement from facebook regarding the libra project.

Facebook libra bitcoin. Facebooks answer to bitcoin poses a double threat. Facebooks libra cryptocurrency could potentially reach 26 billion users. Lets dive into what facebooks new libra coin is and how it differs from the most famous cryptocurrency bitcoin.

June 18th is nearing and that means that facebooks crypto asset expected to be nothing like bitcoin btc is on the verge of becoming full public knowledge. With facebook at the helm. Libra the facebook made bitcoin.

Rather than striving to supplant bitcoin or other cryptocurrencies libra is capitalizing on their technology to target the unbanked. Facebook has been working on its own cryptocurrency for quite a while now and it looks like the company is seeking to unveil its product as soon as its month. With the release of social media giant facebooks digital asset confusion may arise for folks who do not know much about bitcoin.

The whole aim of the libra project appears to be to help position the cryptocurrency as an international alternative to what wechat is in china or what applepay is in the us. The cryptocurrency industry cannot get enough of libra touting its ability to gain mainstream adoption which bitcoin strived to do for years. For those who missed the memo reports released by techcrunch and other mainstream outlets revealed that the social media giant was planning on releasing a white paper for libra or globalcoin as the project is known as.

The company hasnt exactly earned that level of trust. A boost to bitcoin. The company still stands behind its latest comment which says facebook is exploring many different applications of cryptocurrencies without revealing much about the use case of facebook blockchain and facebook coin.

However facebook says that a number of key differences will set its virtual coin apart from the worlds first cryptocurrency. Facebook estimates that 17 billion people operate outside of. Facebook released the white paper for their libra cryptocurrency on tuesday and its led to some mixed reactions in terms of how the new digital currency will affect the bitcoin price.

Facebook S Libra Will Primarily Be Used To Buy Bitcoin Says Fundstrat