Libra, the virtual currency announced by Facebook and partners, will be a stable coin: its value will remain fixed and will not be subject to volatility.
Libra, the Facebook cryptocurrency, will be a stable coin. In the announcement of the project, already a protagonist in the last period of numerous rumors and rumors. The initiative will then come to life next year with the official debut of the currency that can be exchanged within the group’s apps (Messenger or WhatsApp) and managed through the Calibra wallet, an independent subsidiary specifically created by the social network.
Libra, a stablecoin
Let’s clarify what a stablecoin is like Libra and what the differences are with cryptocurrencies better known as Bitcoin or Ethereum. In short, it is a virtual currency whose value is anchored to that of one or more real assets. This puts the funds safely at risk of volatility: it will not be a suitable crypto for speculation operations and users will not see their balance sheet compromised following a sudden drop in the price. The following is the passage of the FAQs on the our website where this aspect is shed light.
Libra is a global cryptocurrency, built on the foundation of a blockchain. Libra is fully funded by Libra Reserve, a collection of currencies and other assets used as collateral for each Libra created, so as to generate confidence in its intrinsic value.
The intent of Facebook and of the partners that have already joined the Libra Association is therefore to make the currency a reliable and universally accessible tool for payments or economic transactions of any kind, both online and in the real world.
Since the value of Libra is stable, you can also save your money in Calibra and use it in daily transactions such as paying for coffee, buying groceries or for public transport.
The value of Libra
From the post that appeared on the official Facebook blog to announce the novelty we learn that the value of Libra will be 1 LBR = 1.0493 dollars . It follows that 1 LBR = 0.94 euros .
Users can therefore convert their money into cryptocurrency, so as to add funds to the wallet for use in Messenger, WhatsApp or for daily payments. Also from the FAQ we learn that the members of the Libra Association are working to make the system accessible to launch in as many countries as possible. At the moment we are still unable to confirm whether there will be the in how many countries, but we do not think there can be particular obstacles.
Our goal is to make Calibra available for everyone, anywhere in the world. We are working to bring Calibra to as many countries as possible, as soon as possible.
The blockchain that will manage the decentralized transaction register is designed to be scalable and at the same time efficient: a few seconds will be enough to validate an operation, relying on the use of all the nodes that compose it, thus certifying the integrity of the information.