Libra cryptocurrency: dare you trust Facebook with your money? John Naughton
Now it turns out that the rumours were true. Last week, Facebook unveiled its crypto plans in a white paper. It’s called Libra and it is a cryptocurrency, that is to say, “a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets”.
Like bitcoin, then? Er, not exactly. Like bitcoin, Libra does use blockchain technology, but thereafter the two currencies part company. Whereas the value of bitcoin oscillates like Boris Johnson’s promises, Libra is supposed to be a low-volatility currency that will let its users buy things or send money to people with very low fees. It will be backed by reserves managed by a nonprofit organisation,called the Libra Association, which gives the token real-world value and oversees the governance of the blockchain technology that powers it.
Congratulations @platyrhodon ! You received upvote from @kryptoniabot & @kryptonia for your task of 309 SUP Today.
Remember to receive votes from @kryptoniabot
Run a task on Kryptonia.
Use the tags KRYPTONIA or SUPERIORCOIN in your Steemit post.
Delegate to the Kryptonia Upvote by clicking links: 10SP , 50SP , 100SP , 500SP , 1000SP
Due to an increased amount of tasks, we have changed up the voting power to evenly spread out the Upvote amount.