The digitalcurrency project Libra, also known as Facebook’s Ramzars, was introduced in 2019. Libra was scheduled to begin its official duties in late 2019, but this did not happen. In the following, we will learn more about the digital currency of Libra and its potentials.
General acquaintance with the digital currency of Libra
Libra’s digital currency is a global currency and infrastructure for billions of people. The purpose of this blockchain-based currency code is to provide money transfers around the world to all Danite people. Facebook plans to launch Digital Labs on WhatsApp and Instagram, with more than 2 billion users. The digital currency is supported by Liberty T. by 28 companies. Visa Card, Master Card, PayPal, Visa, Uber, Lift, etc. are among these companies.
Facebook’s digital currency is a stable coin
The Liberal Digital Currency has the backing of national currencies supported by the Liberal Association’s reserves. These reserves include a portfolio of low-volatility assets that can hold the value of the lira constant. Initially, the dollar, the euro, the Japanese yen and the British pound support Facebook’s digital currency. Other assets will be added in the future.
Libra Investment Tokens
Part of Facebook’s plan is to create another digital currency called the Libra Investment Token, in addition to a stable digital currency. Unlike Libra, which will be available to the public, Liber’s investment token is a securities token. Therefore, its initial public offering will be held privately. The founders of the Libra Association and reputable project investors will be able to purchase the token.
The Liberal Currency Exchange will have its own Chinese blockchain. To approve each transaction on the Ramzar network, two-thirds of the participants must approve it. Initially, only members of the Liberian community are responsible for verifying transactions. To become a member of this community, at least $ 10 million in cash must be paid as collateral and support. Libra has a special programming language for writing Hushman contracts. So we’re probably dealing with something beyond a digital currency.
the project goal
The main goal of the Liberal Currency Project is to connect billions of people by creating a financial ecosystem. In this way, it has helped people who are deprived of banking services. Many people around the world do not even have access to basic banking services. This is the case in developing and underdeveloped countries.
Caliber is a Facebook subsidiary. Calibra plans to expand its financial services and products on the Labrador’s digital currency network. Providing wallet software for Libra is the start of the company’s business. The Calibra Wallet will be a place to store Rambars Libera and a way to transfer this digital currency.