LIBRA COIN- FACEBOOK'S CRYPTOCURRENCY. CALIBRA WALLET


WHAT IS CRYPTOCURRENCY?

A cryptocurrency is a digital or virtual currency that is meant to be a medium of exchange. Today cryptocurrencies have become a global phenomenon known to most people but not understood by many people. So let's deep dive into this article to understand how cryptocurrency actually works.


When we buy or sell a thing, the payment is usually processed by a bank or credit card company.

Problem number one, the company often take a cut of the transaction.

Problem number two, we have to trust these companies to protect our sensitive data from hackers.

Problem number three, most international payments take a long time and are expensive.
To solve these problems, we could use a special currency that is secure and based on the science of cryptography, which is a way of protecting the information using mathematics.

This special type of currency is called a Cryptocurrency and only exists in computer networks. When you send someone the special currency, the money goes directly to them, removing the middleman. And at the same time, the transaction is broadcast to the entire network and recorded in a permanent way, which means it's almost impossible to fool the system. 

Costs of making payments are lower. Transactions are faster, especially across the countries. And even those people around the globe who don't have bank accounts can buy or sell goods and participate in the global economy.

However, there are some risks. The transactions in most cryptocurrencies are anonymous. Some cryptocurrencies can even be untraceable. This can make it easier for the bad guys to make payments without being noticed. If you lose your password, you could lose all your money. At the moment, cryptocurrencies are highly volatile. They can't process large amounts of transactions quickly yet, and they are not even widely accepted.

But if we can counter the risks, then this new technology or some variation of it can completely change the way we sell, buy, save, invest and pay our bills. And who knows, this could be the next step in the evolution of money. 

                                                                     
LIBRA COIN- FACEBOOK'S CRYPTOCURRENCY. CALIBRA WALLET



 LIBRA COIN- FACEBOOK'S CRYPTOCURRENCY

Recently, Facebook unveils a new digital currency called "LIBRA". LIBRA coin is basically a cryptocurrency which is table coin like TUSD and USDT. The company is partnering with 27 other businesses and organizations like Uber, Vodafone, eBay, Coinbase, Master card, Visa and many other forming a Libra council to start the crypto as an open- source currency. 

Facebook says it aims to make it as easy to send money around the world as it is to send a photo. 

Facebook expects currency and wallet to launch in early 2020. It will be run by non-profit based in Switzerland and unlike Bitcoin, Libra this digital currency will be backed by real money.

Libra is like converting Indian rupees into Dollar\ Pound\ Euro by digitalizing. It will work much like PayPal or Paytm in India where many transactions are done daily. To access Libra, only a photo edit is needed of a person and then by depositing cash or buying Libra currency from any wallet app, the person can easily send, add, or withdraw money in just a few taps or make payments at places like Uber or at any shopping site.

The transaction charges of Libra are much lower.
However, unused Libra coins of wallet can be converted into hard cash whenever needed.
There will be a Libra Reserve to stabilize its value to counter the risk of losing one's money under any circumstances.

LIBRA coin is basically a digital payment solution from which you can transfer funds from one place to another without any chargers and time delay.
LIBRA coin is a totally stable coin.

CALIBRA

LIBRA wallet is known as Calibra. Calibra is from Facebook. Making it easy to use in your favorite app like facebook, WhatsApp or others.


LIBRA in India

In India, the acceptance of LIBRA is quite doubtful though it will be launched globally in 2020. Because cryptocurrency is already banned in India. So its future in India is not known.


LIBRA COIN  is a big challenge for central bank and centralized system. Let's see what happens in the future.

LIBRA COIN- FACEBOOK'S CRYPTOCURRENCY. CALIBRA WALLET LIBRA COIN- FACEBOOK'S CRYPTOCURRENCY. CALIBRA WALLET Reviewed by Dipanwita Das on June 20, 2019 Rating: 5

No comments:

Powered by Blogger.