Facebook Unveils Cryptocurrency Libra as an Alternative to Bitcoin
Posted on AllSides June 18th, 2019
From The Center
Move is the most ambitious effort yet to take blockchain payments mainstream
Facebook Inc. formally announced plans to launch a cryptocurrency called Libra, promising a secure blockchain-based payment system backed by hard assets and designed for mainstream users.
Facebook named early Tuesday a series of big, corporate partners—including financial-services heavyweights Mastercard Inc. and PayPal Holdings Inc. and tech giants Uber Technologies Inc. and Spotify Technology S.A. —that it said will help it create a “secure, scalable and reliable” crytocurrency.
The Wall Street Journal reported in May the initiative involved the...
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