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The newspaper warned that if Libra
took off it had the potential to "rock the financial system" if a situation arises where the money is withdrawn from the current financial system and changed into the Libra
Despite these risks, calling for an immediate halt to Libra
may not be the right move.
One difference between the Libra
and other cryptocurrencies is that it will be backed by a reserve of assets intended to keep its value stable.
will deliver the users, developers, partners, and network needed to see if we can deliver on all of the promises we've made about blockchain.
Facebook is unveiling a digital currency called Libra
, as the company seeks to make its ads more valuable by enabling smoother transactions and payments online, particularly among those without credit cards or bank accounts.
To hold Libra
, providers will need a so-called digital wallet.
But with Libra
, it is a step in the right direction.
Association is handling the new digital currency, under the leadership of Facebook.
Initially, the Libra
system will be used mainly for transfers between different currencies, Marcus told dpa.
The company is set to launch Libra
's white paper and if the currency takes-off, all the stakeholders will benefit from it.
Securities and Exchange Commission, downgraded Libra
Terminal Rio S.A.'s (Libra
Rio) Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) to 'D' from 'CCC' and National Long-Term Rating to 'D(bra)' from 'CCC(bra)'.