Facebook launches Libra’s Calibra site
Libra Coin’s whitepaper has finally been Released
As rumoured yesterday that Facebook’s GlobalCoin is unveiling its whitepaper today, the team behind the cryptocurrency has unveiled the rumoured whitepaper.
Today’s Gazette can confirm that Facebook also launched Calibra site, a platform that is said to be a Libra’s digital custodial wallet, saddled with the responsibility of enabling storage and usage of the Libra digital currency.
The platform is going to serve as a major wallet where the much awaited Facebook’s GlobalCoin branded as Libra will be stored.
Few minutes after the website was launched, it went down and has not been available since then. Viral screenshot, however, reveals the look of the website.
Facebook just released the Calibra website. More announcements to come soon: https://t.co/kJsIxTSou6 #Blockchain #CryptoCurrencies #Bitcoin pic.twitter.com/csMR2Vjbfa
— Crypto Rand (@crypto_rand) June 18, 2019
In the same line, Calibra Customer Commitment Paper has surfaced. The paper states clearly that the wallet will be made available on WhatsApp first and Facebook Messengers, before its Android and iOS version launches. [Download the paper here ]
Calibra, according to the paper, is a part of Facebook, Inc. It is designed to be a provider of financial, however, it is to be overseen, hence, regulated.
Also, the platform is designed to separate the Calibra’s financial information from Facebook’s social data.
— Uncle Diaz⚡️ (@UncleDiaz) June 18, 2019
Through Calibra, regulatory bodies, policy makers and stakeholders are to be engaged.
The Calibra Customer Commitment paper serves the purpose of offering guidance to intending users of Libra and will be changed once Libra is launched.
As the cryptocurrency world awaits the launch of Libra, expectations are high that the digital currency will outperform or even kill Bitcoin and Ripple’s XRP .
As this opinion is been dissected, experts see the involvement of Facebook in cryptocurrency as a blessing to the growing industry. However, some see Libra as a threat to in-house digital currencies.
Yesterday, it was rumoured that Facebook’s GlobalCoin whitepaper is to be launched today. What is obtained on the internet at the moment reflects, the Facebook team behind the launch of the digital asset are still working on it.
Meanwhile, to reduce the possible effect of Facebook’s GlobalCoin on Ripple’s XRP, the company behind XRP invested $50 million in MoneyGram, the second largest remittance firm in the world.
The remittance firm is now going to be exploring xRapid, a solution that depends solely on XRP.
There is no doubt that the partnership will increase the usage of XRP and boost the crypto industry at large. Available terms on the internet, reflects that the partnership will make MoneyGram make use of other digital currencies as well.
Facebook Launches Libra’s Whitepaper
Facebook has just unveiled its whitepaper . The purpose of Libra is to serve as a simple global currency and financial infrastructure responsible for empowering billions of people. The blockchain technology is designed on a secure, scalable, and reliable blockchain and it is to be backed by reserve assets to give the digital currency intrinsic value.
The blockchain platform is to be governed by Libra Association saddled with the responsibility of evolving the ecosystem. The cryptocurrency is designed on the “Libra Blockchain.”
The Libra Association will comprise of a not-for-profit membership organization that is to be based in Geneva, Switzerland.
Members of the association, according to Libra’s whitepaper includes:
Payments: Mastercard, PayPal, PayU (Naspers’ fintech arm), Stripe, Visa.
Technology and marketplaces: Booking Holdings, eBay, Facebook/Calibra, Farfetch, Lyft, MercadoPago, Spotify AB, Uber Technologies, Inc.
Telecommunications: Iliad, Vodafone Group.
Blockchain: Anchorage, Bison Trails, Coinbase, Inc., Xapo Holdings Limited
Venture Capital: Andreessen Horowitz, Breakthrough Initiatives, Ribbit Capital, Thrive Capital, Union Square Ventures.
Nonprofit and multilateral organizations, and academic institutions: Creative Destruction Lab, Kiva, Mercy Corps, Women’s World Banking.
Note: The article, including the headline has been edited to reflect the launch of Libra Whitepaper.
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