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Mark Zuckerberg confirms the launch of the cryptocurrency 'Libra'

Mark Zuckerberg confirms the launch of the cryptocurrency 'Libra'

"I think people should have the opportunity to send money with the same ease as sending a photo," said Facebook founder Mark Zuckerberg in April of this year.

But this idea has already become a reality.

Zuckerberg through a post on his Facebook profile has confirmed with the help of 27 non-governmental organizations from all over the world he has launched the new digital currency named "Libra".


According to him, the mission of this cryptocurrency will be to create a simpler world financial infrastructure.

"Libra's mission is to create a simple global financial infrastructure that empowers billions of people around the world." It is powered by Blockchain technology and will be launched in 2020," Zuckerberg announced, Telegraph reports.

He says this service will be available on WhatsApp and Messenger.

“To enable this, Facebook is also launching a standalone branch called Calibra that will build services that let you send, spend and store Libra – starting with a digital wallet, which will be available on WhatsApp and Messenger and as a standalone app next year," he says.

Facebook on Tuesday is expected to present its cryptocurrency 'Global Coin'
Read too Facebook on Tuesday is expected to present its cryptocurrency 'Global Coin'

Facebook has been working for more than a year on a secret initiative codenamed "Project Libra" to build a cryptocurrency-based payment system.

The social networking giant has been talking to financial and online trading firms as it looks to get around $1 billion in investment and seek partners to help launch the system. /Telegraph/