After many months and with changes, the Facebook Libra cryptocurrency will finally be launched in January, although it will be accompanied by many doubts.
When Facebook talked about their Libra cryptocurrency project, we were all surprised, but the announcement was followed by a few scandals. In October 2019 we saw how the project was falling apart when investors were fleeing. During this time there has hardly been any talk about it, but it seems that in January 2021, finally, Facebook Libra will be launched.
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The Libra Association will launch the Libra currency in early 2021, although it will come with some changes from what was announced at that time.
The first and most important thing is that it will not have a fluctuating value, but will be in line with the dollar. To sum it up, cryptocurrencies such as Bitcoin suffer great ups and downs in their value that allows them to be used as an investment, whereas with Libra it will have a stable price: it will be a virtual currency comparable in use to PayPal.
Another of the changes will be in its virtual wallet, which was originally going to be called Calibra, but they have changed their name to Novi and will be used in the different platforms of Facebook.
Facebook has a clear intention to move towards the world of finance and being able to make purchases, transfers, or payment methods with cryptocurrency sounds like a priority.
In any case, after so many months of disagreements, the launch of Libra seems somewhat unimpassioned by having to rely on regulations that are far from the freedom that was originally planned when imagining the currency. A new stage is about to begin, but not as revolutionary as one might have expected.
Facebook will launch Libra cryptocurrency in January. We will see the repercussions that it takes and if Facebook manages to overcome some prejudices towards the company due to the privacy problems experienced in the past.