Facebook Published The Libra Cryptocurrency Whitepaper

The Largest Internet Company Facebook published the Libra Cryptocurrency whitepaper for its Blockchain based Project reported on 18 June 2019.

According to the report, Facebook will create an open interoperable ecosystem by making it’s Libra blockchain software open source.

As per the whitepaper, Facebook will create the stablecoin named “Libra” that will be backed by the reserve of assets in order to provide the intrinsic value to the coin. The Libra coin will be based on the Libra blockchain.

The Libra Association will handle this Cryptocurrency project where all developments regarding the growth of the project will be operated under it.

The coin will facilitate payments across Facebook’s various platforms including WhatsApp and Instagram, giving the new coin the potential to reach billions of total users globally.  

Facebook own’s Social Media platforms like WhatsApp and Instagram will be integrated with the payment system for the newly developed Libra cryptocurrency that makes it widely adopted by billions of users around the world.

Previously, the Facebook company announced to launch the testnet on Libra Blockchain next week for their upcoming Libra cryptocurrency project that will be operated under Libra Association.