The cryptocurrency made up of two terms: crypto and currency. It is therefore a ‘hidden’ currency, in the sense that it is visible/usable only by knowing a specific computer code (the so-called ‘public and private’ access keys’, in even more technical language).
Now big companies also startup their own digital currency. Facebook pounds have changed. After being widely criticized for opening in June 2019, it has now reported the White Paper in an attempt to reassure regulators and governments. If you are thinking of investing in crypto then read this article first.
In particular, the new appearance of Libra eliminates any intention to switch to my world without a license. It also provides a set of standard fixed currencies for individual foreign currencies, as well as the same multi-currency fixed currencies.
However, while this will likely ease the situation for regulators, how will this affect the cryptocurrency and blockchain industry? Well, the picture here is varied, because although Libra can help adopt cryptocurrencies, at first you can still become a major candidate for decentralized encryption tools like Bitcoin (BTC) and Ethereum (ETH) and may also increase government stance on these Resources
Libra- Facebook digital currency
Facebook was introduced last June, and initially wanted Libra to be backed by a mixture of currency and public debt.
Therefore, its latest update in the White Paper offers some concessions to regulators. First, it is important to ensure that they comply with all applicable KLC regulations (know your customers). It is also driven by a fixed currency linked to many currencies in many currencies.
“The rest of the currency will be a basket (or an asset container) for the large digital currencies of the central bank represented on the network. This means that there will be a digital dollar, a digital euro and a digital pound that will travel to bars.” Lex Sokulin, joint global technology officer, says: Liberation Blockchain. In financial terms at ConsenSys, this is the same fixed currency today that travels to Ethereum bars.
For him, the fact that Libra will import static coins with Fiat warranty means that they will not be a direct competitor to BTC or ETH, representing the value of the underlying networks and considered digital products.
However, for other industry numbers, Libra’s cryptocurrencies can stabilize to the point where the audience may be more willing to trust a “trusted” company like Facebook than a decentralized network. Bitcoin circuit is the way to use bitcoin.
“The crypto boom two years ago left a clear mark. New research from the Economist Intelligence Unit showed that people have more confidence in a service like Libra created by the tech giant from decentralized currencies like Bitcoin.
However, while there is a risk that the rest will steal Bitcoin credits, interactive investor Gary McFarlane believes that the limited nature of the balance may end up sending people into truly decentralized digital currencies.
“The scale, which is seen as a kind of circular route to a decentralized destination, which others will reach at a different time, will improve the present value of the cryptocurrencies without friction.
Just by calling
The new standard also abandoned all plans to move to an unauthorized open system, and chose to maintain a licensed private database instead. However, Glenn Goodman believes that he will encourage the emergence of an integrated ecosystem for cryptographic services, some of which may include real blockchain and cipher elements.
Lex Sokolin agrees that Libra will permit the completion or construction of additional services. Although it states that there may still be some boot issues before it is fully booted.
“Developers need to test and expand technology, run a hackathon and volunteer to build hours to create an ecosystem for products and services at the top of the network,” he says. “Libra laid the foundation for open source software when it was released in June 2019, but it will take more time to focus on the system and reap the benefits of a dedicated community.”
Sokolin also notes that Libra technical app gets a lot of ideas from Ethereum and other blockchain in general, so there’s a chance for some kind of interoperability to emerge. Obviously, it would be nice to accompany the crowd on the blockchain