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You have likely, at one point or another, heard of Facebook’s crypto effort “Libra”. Libra is usually described as a blockchain-based cryptocurrency stablecoin, although some challenge whether Libra will ever be seen as a “true” cryptocurrency. However, Libra’s story has been long and winding, and many may wonder where Facebook’s Libra crypto is in 2020.
So, first of all, what is Libra? Well, Libra is commonly known as “Facebook’s crypto”, but the full story is a bit more complicated than that. What’s more, Libra has changed radically since it was first announced in June 2019.
This article looks at the Libra coin's specifics and answers the question, “where is Facebook’s crypto in 2020”. Is Libra going to become the “Bitcoin killer” some assume a Facebook-backed cryptocurrency could be, or will it struggle to gain traction? Read on for a full breakdown of Facebook’s crypto effort...
It was on June 18, 2019 that Facebook announced a piece of unprecedented news: the launch of its mysterious cryptocurrency called Libra. This news brought much doubt and surprise around the world, and would subsequently go on to encounter a plethora of obstacles. This meant several of the members of the Libra association would begin to doubt their permanence. This guide breaks down what has happened so far and explains Facebook's Libra.
From users of the social network, to the presidents of various countries, many had different reactions to Libra. Specifically, this was the great bet that Mark Zuckerberg had up his sleeve to finish knowing absolutely everything about us: our money.
The natural reaction of the banking sector, politicians and government authorities was total rejection and anguish since Libra officially represented the breakdown of the current economic model, based on the outdated and unsustainable banking system, which would only bring very bad news...