As it was in the news sometime before that Facebook is going to launch a new option in all its platforms of stable coin or Bitcoin which are linked with cryptocurrency and according to recent news the Facebook is going to give all the details about the cryptocurrency which they’re going to use and also this detailed information will be delivered to the users on 18th of June 2019.
All the users who are using these platforms can easily use this facility and can exchange digital currency with their customers or colleagues. On purchasing anything, for sending the amount of money to anyone and for many other purposes these coins can be used. The Bitcoin which will be launched by Facebook will be known as Libra.
More details about the same will be discussed in this article further.
Some common points related to the Libra:
- Firstly because of Facebook introducing the Fiat currency, it will make the process of the digital world more disciplined as the number of thefts have increased from the past few years.
- When Facebook introduces the Libra in future it will make the Crypto market more disciplined in terms of following terms and conditions.
- Not only this but Facebook is going to share the interest which it will get after keeping this much amount of money in the banks.
- Hence, the interest will be shared between Facebook, banks and users.
- So, we can say that this will be very beneficial to all the three sectors who are interrelated with this project.
- After this, the value of Facebook will grow globally and it will increase its business as well.
- Not only for Facebook but all the interrelated platforms like WhatsApp, Messenger are also linked to the uses of this Fiat currency.
The major benefits of the Libra are given below:
- An individual can easily preserve their coins and can use them whenever they need to do so.
- Also, the risk of fraud will decrease because of the rules and regulations which are being passed by the Facebook firm.
- Even the transaction fee which is implied right now will decrease by the time.
- Even one has no need to go to the bank to pay immediately to someone as then they can easily do the same with the help of the Facebook cryptocurrency.
- The payment will be quick and there will be no third party interference in between.
- Even for small business, it is difficult to do the international payment but after the launch of this coin,doing international payments will become easier.
Other opportunities after the launch of the Facebook coin:
- It will help to attract the contractors to sign the contract easily on the basis of payments through the Fiat currency.
- The wallet money Technology will be increased and some new editions will be done after the launch of the same.
- Even the work will be more systematic and there will be more chances of getting freelancers and the payment can be done instantly after getting the work done by the person.
- Even those were selling product through these platforms will get the advantage of getting the money easily and transferring it to the other person.
Other details will be transferred to us on the 18th of June 2019, and we will get to know what was the next step of Facebook for the same.
Currently, we have news in hand which tells us that the project will be launched officially in 2020 after fixing all the tits and bits of the projects.
Hence, we can say that the decision taken by Facebook to launch the currency will be very successful.