Mark Zuckerberg Unveil New Currency “Libra”

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Mark Zuckerberg Unveil New Currency “Libra” , Facebook has announced a digital currency called Libra that will allow its billions of users to make financial transactions across the globe , in a move that could potentially shake up the world’s banking system , The Guardian reports.




Libra is being touted as a means to connect people who do not have access to traditional banking platforms. With close to 2.4 billion people using Facebook each month , Libra could be a financial game changer , but will face close scrutiny as Facebook continues to reel from a series of privacy scandals.

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It could also be a welcome lift to Facebook’s profits: analysts are suggesting Libra could be a huge moneymaker for Facebook , arriving as its growth slows.

Technology to make transactions with Libra will be available as a standalone app – as well as on WhatsApp and Facebook Messenger platforms – as early as 2020. It will allow consumers to send money to each other as well as potentially pay for goods and services using the Facebook-backed digital currency instead of their local currency.

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