Facebook is associated with several companies to get their own cryptocurrency

 San Francisco, – Facebook has partnered with several technology, financial and e-commerce companies to take out a cryptocurrency of its own to carry out transactions between individuals and establishments, The Wall Street Journal published today.

The currency project has the support, in addition to the social network, of companies such as Visa, Mastercard, PayPal and Uber, which will be part of a consortium named “Asociación Libra” (the operation has received the name of Libra Project) and will act as a supervisor of the cryptocurrency.

Thus, Facebook will not exercise direct control over the currency, but this will be collegiate by all members of the association, despite being the company that leads Mark Zuckerberg the main driver of this initiative, which will be made public official next week.

Each participating company will contribute around 10 million dollars to the consortium of management of the cryptocurrency, whose value will be linked to a basket of different international currencies to endow it with the stability that Bitcoin does not have, for example.

In addition to the aforementioned companies, other participants in the project according to the New York newspaper are the payment company Stripe, the travel booking portal Booking.com and the Argentine e-commerce firm MercadoLibre.

Not having direct control of the cryptocurrency (something that had been initially speculated) will give Facebook more room to act in the face of the more than likely intense scrutiny that will be submitted to governments and regulators around the world, and especially jealous of the company in matters of privacy and management of user data.

Despite the relatively little success that cryptocurrencies have achieved so far, if the Facebook project and the rest of the Free Association companies gain traction among Internet users, the implications for the global financial industry could be gigantic, since almost a third of the world population has an active account in the social network (EFEUSA).

Leave a Reply

Latest

Biden asks Trump to speed up tests after President joked to slow them down

The virtual candidate of the Democratic Party to the White House, Joe Biden, has asked the President of the United States to accelerate the...

Mark Hamill regrets his criticism of Luke Skywalker’s “Star Wars: The Last Jedi”

Actor Mark Hamill, who plays Luke Skywalker in "Star Wars," apologized on Twitter today for his criticism of the new direction his character had...

Osceola Clerk Offers Electronic Certified Copies of Court Records

Kissimmee, Florida — Effective July 3, 2019, Criminal and Civil court records will be available via E‑Certify at the Osceola County Clerk of the Courts.  Similar...

The movie “COLAO” arrives this week to Miami, Orlando and other cities in Florida

The Dominican film with the greatest international reach with 500,000 ticket offices sold, starting on Thursday, February 9, 2018. MIAMI, FLORIDA.- This week, Frank Perozo's...

Auto sales remain stable in May

New car sales in the United States remained stable in May, ending only a slight loss in deliveries of 0.3% and sales of about...
%d bloggers like this: