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Facebook’s new cryptocurrency- Libra

Facebook’s new cryptocurrency- Libra
•Despite several high-profile defections and intense criticism from US regulators and politicians, Facebook officially launches Libra.
•it is a digital asset built by Facebook and powered by a new Facebook-created version of blockchain, the encrypted technology used by bitcoin and other cryptocurrencies.
•The currency will be serviced by a collective of companies called the “Libra Association”. It functions as what is known as a “stablecoin”, pegged to existing assets like the dollar or euro, in the aim of making it less subject to the volatility that many cryptocurrencies experience
•The Libra Association is described by Facebook as an independent, not-for-profit organisation based in Switzerland

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