Is Libra really a blockchain technology?
Libra is indeed a blockchain- This implies that although it makes use of blockchain as underlying technology, Libra isn’t using blocks for transactions, experts question if it is even a blockchain! Whatever maybe the case- this new model threatens to change the landscape of how we transact today.
Known method of purchasing Libra:
Facebook isn’t going into many details regarding how the currency will be made available at launch, yet signs point to a blended approach. The presence of payment firms, such as Visa and MasterCard, suggests that they will let users simply buy the currency. However many within the circle has hinted that air drop will not be an option. This means giving out small amounts of currency for free to participant who enable the powering of the ecosystem. Ultimately, people will need a more reliable source of Libra income rather than handouts directly from Facebook. In the long term, we can also expect some of Libra’s founder members to offer their employees all or part of their compensation in the currency and launch in the exchange ecosystem.
Value and importance of Libra
Libra will resemble cash that lives inside your phone. You’ll be able to spend it while shopping online, or potentially paying for things like Uber or your subscription for Spotify. These companies, and many more, have partnered with Facebook to make Libra popular. Since it will be free to digitally move Libra from one account to the other, you won’t have to pay processing fees for sending/receiving money from anywhere in the world. Eventually, Facebook hopes that you’ll use Libra to pay your bills, scan your wallet’s QR code to purchase coffee or tap your phone to buy your public transport tickets. At any time, you can cash out of Libra and get your local currency back in your bank account or handed over to you at a neighborhood supermarket. Libra will ultimately eliminate exchange discrepancies and exhaustion.
more easier to send money than send picture with a smartphone
