What is Libra coin? Things to know about Facebook’s upcoming coin Libra.

Recently Facebook made headlines when they announced their plans about Calibra. It is a new subsidiary of Facebook that focuses on financial services. Their goal will revolve around utilization of a new digital currency, powered by blockchain, called Libra. Calibra will first introduce a digital wallet and is expect to release in 2020. This announcement has received mixed reactions from both crypto and mainstream media.

Despite the split opinions, there seems to be a general agreement that Facebook can very well pave the way to the global adoption of blockchain technology. The reason behind general agreement is that it has more than 30% of entire world’s population or say 2.38 billion people as its users.

What is Libra?

Libra is a cryptocurrency created to let people access and participate in Libra Network. Users shall be able to exchange currency into these digital currencies and use them in online transactions.

Libra digital coin is essentially a stable coin as it is government-issued currencies such as USD, EUR, SGD, etc. Many decentralized cryptocurrencies such as Bitcoin or Ethereum, are unstable in its valuation. Facebook aims to create a more stable cryptocurrency to encourage it as a means of ordinary online consumer transactions.

This Libra Association is make up of reputed partner companies such as MasterCard, Visa, PayPal, Uber, and many others. These companies will work together to make sure that payment processes are faster, more accurate, and safer than present financial technology by using Blockchain Technology.

The rise of stable coins:

Stablecoins are cryptocurrencies with values dated to assets such as dollars or gold. Stablecoins are a stable, scalable and secure means for transactions, aims to work as traditional currency. Many Stablecoins are date at a 1:1 ratio with certain currencies, such as the US dollar, which can trad on exchanges. Hence, Stablecoins are not that price volatile like other cryptocurrencies.

Facebook is latest brand to announce its plans on stablecoins.

JPM Coin by JP Morgan & Chase

Cointelegraph reported on 14th February that JPMorgan Chase introducing their cryptocurrency called JPM Coin. Just like Bitcoin, JPM Coin speeds up transactions between JPMorgan customers.

Goldman Sach

CEO of Goldman Sachs Group Inc. Made headline saying that he is “absolutely’’ looking at digital currencies and are conducting extensive research on this.

IBM

IBM is currently working on a Stronghold USD and shall begin experimenting with various ways for financial institutions to achieve a more reliable and safer transaction processing throughout the world.

Tether

In the world of Cryptocurrencies, Tether is most widely accepted stablecoin. Despite many controversies, this stablecoin can be found in most exchanges as a substitute for US dollar.

What is next for Libra?

Although question here is about global “Blockchain” adoption, then yes, Facebook is a reputed brand that is widely known in the world. Success of Libra can become helpful to blockchain technology adoption in general population.

Conclusion:

Although Libra is a cryptocurrency it would be safe because firstly it is stablecoin then secondly it has reputed partners and even launched by Facebook which is a reputed company all over the world.


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Is Bitcoin a Good Investment?

Bitcoin is a type of virtual currency where you can invest and get returns at the same time. Even the bitcoins has yet not been accept as illegal currency in most of the countries. But later if it is accept it will stimulate international trade all around the world.

Bitcoin is a peer-to-peer network and digital currency that was introduce first in 2009. It is decentralize and is independent of any scrutiny or management from any government or banking authorities. Among some of the other popular benefits, bitcoins allow the users the option to make any kind of financial transaction. At much cheaper rates than the other traditional online payment mechanism.

As a user, bitcoins are quite helpful in facilitating financial transactions with minimum fees. Available to both the regular and new users looking to invest in bitcoins, all users can buy or sell Bitcoin from established Bitcoin Agencies. As because bitcoins can be convert into several fiat currencies, the companies offer the user with the unlimited conversion of bitcoins into fiat money and vice versa.

So a question may come up, Is Bitcoin a good investment? So in this article, we will be sharing some of the benefits of using bitcoins.

Bitcoins offers several users

Initially, most of the users were introduc to bitcoins as a simple digital currency to carry out daily financial transactions with minimal charges as compared to the other forms of online payment methods. Since that time people found that there are several uses for bitcoins as the market began maturing. Bitcoin uses the blockchain technology for all the digital transactions. Where every transaction is record and held for the verification purpose and then to process them based on their validity. All these transactions are in the form of the public ledger and can only be view from specific blockchain websites. Some other activities that can be done using bitcoins are digital reading of securities for land titles. And other properties  large insurance claims, as a payment method. For remittance, for settlement of confusion between Financial institutions, for all types of documents stamping and auditing, for customer rewards and crowdfunding.

The expected gains from bitcoins are much more than the expected loss

The potential gain in BTC is much more than the potential loss as because most of the cryptoanalysts from all over the world have speculated. That the bitcoins could become a global currency shortly even though it is very hypothetical. Economists have speculated that the price of a bitcoin would hike up to 200 times of its present value that is$1 worth Bitcoin would range to about $20,000 in the future.

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  Bitcoins provide interest on your investment

  
  

Bitcoin is consider as simple commodity money and so when you hold bitcoins you can invest them in the same way you invest in your business with your fiat currency. Like Fiat currency, you will also generate interest from this investment. So holding up some bitcoins could allow you to invest in them and then earn interest on the same.

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  The easy access

  
  

While using bitcoins, you are not require to link up your money in any long term plans so to make a profit out of it as you can make a profit in a short period. It depending how much money you have transferred through the Bitcoin network. As such, you can easily invest in bitcoins and use the interest generated from the transfer in buying daily purchases like groceries. This simply means that you can get instant access to the money and do your daily financial transactions even though it is being invest.