Libra, Facebook's cryptocurrency

Libra is a cryptocurrency created by Facebook in collaboration with several companies. It will not be a monetary asset like bitcoin. The main difference is that it will not be an open blockchain during the first five years. Moreover, its technical and organizational bases will be established by the Libra Association, an organization formed by the companies that have created it. Some countries have already begun to legislate the use of blockchain.

After the first five years Libra will evolve into a fully open system. This measure aims to generate confidence in the security of transactions, since it will be very easy to send and receive money through the app.

Libra will comply with the existing regulations of the countries in which it will operate, regulations that the rest of the cryptocurrencies find difficult to comply with because of their fully decentralized nature.

The intention of the creators is no other than to lead by example, given that the reputation of their companies is at stake. For this reason, the creators have accepted to comply with the regulations of each country, as recommended by the international monetary fund.

Libra will undoubtedly succeed in attracting more people to the blockchain technology as well.