Welcome To Androidlic Forum...Great Place To Connect, Interact & Learn With Android Lovers !


Author Topic: Facebook reveals new digital currency called Libra  (Read 11678 times)

0 Members and 1 Guest are viewing this topic.

appmonstars

  • Sr. Member
  • ****
  • Posts: 459
    • View Profile
Facebook reveals new digital currency called Libra
« on: June 19, 2019, 06:57:45 AM »


As expected, Facebook announced a brand new cryptocurrency coming in 2020 – Libra. Described as a new digital wallet for new digital currency, the new financial service will allow consumers to keep their cryptocurrency safe, as well as make various transactions.

When it launches in 2020, the digital wallet will be available in Messenger, WhatsApp, but also as a standalone app. The decision to launch such a service is based on the people's need to save, send or spend money even if they don't have a bank account.

Apparently, many people around the world still don't benefit from even basic financial services, especially in developing countries. Calibra, the company behind the financial service, is meant to address this problem since it will allow those who don't have a bank account to save, send and spend Libra.

Most importantly, Calibra will allow users to send Libra to almost anyone with a smartphone just like sending a text message. Additional services will be provided to those using Libra later on, including the option to pay their bills.

Facebook says that Calibra will not share account information or financial data with its servers or any third party without customer consent. Furthermore, the social network company mentions that Calibra will use Facebook data to comply with the law, secure customers' accounts and prevent criminal activity.

It remains to be seen what merchants will accept Facebook's new cryptocurrency and how companies in developing countries will be convinced to pay their workers in Libra if they so choose.



 

Some Android apps send Facebook personal data without obtaining consent - report

Started by mobify

Replies: 0
Views: 10921
Last post January 02, 2019, 08:27:03 AM
by mobify
Facebook rollout News Feed petition feature to pressure corrupt politicians

Started by gurutek

Replies: 0
Views: 16030
Last post January 21, 2019, 07:18:33 AM
by gurutek
Germany orders Facebook to stop collecting German WhatsApp users’ data

Started by droid

Replies: 0
Views: 10619
Last post May 12, 2021, 11:31:51 AM
by droid
Gameloft reveals new LEGO-themed team-battle RPG for Android

Started by appmonstars

Replies: 0
Views: 12012
Last post May 24, 2019, 05:55:20 AM
by appmonstars
bug allegedly caused third party apps to have access to photos of facebook users

Started by droid

Replies: 0
Views: 10709
Last post December 17, 2018, 12:06:05 AM
by droid