Facebook has announced a plan to release its own cryptocurrency


On Tuesday, the American company Facebook reported its plans to release its own cryptocurrency Libra in 2020. The company, which owns the world's largest social network, intends to ensure that the new cryptocurrency, tied to the dollar and low-risk securities, reaches the international level, competing with the dollar. It is planned that Libra will be used for daily transactions that can be carried out through messaging services. The planned release of cryptocurrency still requires obtaining permission from regulatory authorities. To achieve this, as well as to make further decisions on cryptocurrency, the Libra Association was created. It includes 27 companies, such as PayPal, Visa and Uber Technologies. Members of the association will create a general reserve that ensures the stability of Libra. The minimum contribution will be 10 million dollars.

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