Facebook announced the Libra Cryptocurrency

Facebook is the first major company announcing its own cryptocurrency called Libra. It very much differentiates from all public blockchains. Even though called a “blockchain” the Libra ledger is not going to use blocks for the transaction storage. The ledger will be permissioned, limited to a few network validators. Facebook is launching a stable coin backed by a basket of fiat currencies which will operate within the Facebook ecosystem. Initially the project aims at providing financial services to the unbanked.

References
* Libra Whitepaper

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