After months of rumors, corridors filled of whispers and crazy assumptions; Mark Zuckerberg has done it again. There’s something going on in Silicon Valley.
In the same way that the radio-cassette player or the VHS were displaced by the tech giant, the financial system could make a U turn.
To recharge funds, to take money, to buy a coffee or to divide the bill in a dinner with friends… Ordinary operations like these ones could be solved in a simple way.
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Libra and Calibra: the ace of Facebook
Facebook confirmed a few days ago the launching of Libra, a new open source currency based on the blockchain technology, and the financial subsidiary, Calibra.
If you still don’t know the blockchain universe, click on this link.
Supported by big companies in sectors as different as telecommunication, financial, technological and blockchain, this project seeks to offer, in a simple way, to pay in crypto with a user experience like the one of a modern financial institution. In conclusion, hiding our money under the mattress has its days numbered.
A steady and reliable cryptocurrency
This currency stability plays a key role in this project. According to the official statement of the project, one of its goals is to make Libra “safe, reliable and scalable”.
The body responsible for supervising and controlling these aspects will be the Libra Association, which will guarantee stability thanks to the funds contributed by some of the founding members such as Visa, Mastercard, Paypal or Ebay.
In addition to the companies mentioned above, Libra is sponsored by powerful companies such as: Vodafone, Uber, Spotify, Andressen Horowitz, Breakthroug Initiatives, Anchorage, Bison Trails, among others.
A technological challenge
Calibra, which will allow to operate with Libra, will be available in Messenger and WhatsApp and, moreover, as a stand-alone application on iOS and Android.
As we said before, Libra has the support of crucial agents in the control and management of money, both on and off the internet.
Therefore, one of the great steps for the implementation of Libra is to gain a foothold as a payment option.
The company predicts that this project could see the light in 2020. To save, to spend or to send money; everything is possible with the wallet of this system.
How secure is our data with Libra?
One of the aspects that can further disturb future users is the privacy and security issues. Will my data be safe? Will they end up discovering my expenses and transactions?
Don’t panic. The company has been very blunt in this regard. Calibra “won’t share account information or financial data with Facebook Inc. or any third party without the client’s consent”.
Therefore, the accounts’ information and financial data of Calibra’s clients won’t be used “to improve the segmentation of advertisements in the Facebook Inc. products”.
OneUP bets on progress
The blockchain technology and the cryptocurrencies emergence and development are a worldwide phenomenon. Unknown to many, this technology has been building up for years and achieving that thousands of projects can be developed worldwide.
In the same way that companies as powerful as Facebook or Mastercard has trusted in its operation to launch their own projects, OneUP benefits from the many advantages of these systems.
Blockchain: key element
Its immutable and transparent nature make blockchain a safe and reliable technology. Its scalable power allows us to take our project to the whole world more effectively.
Through this technology our project not only grows, but also allows all digital operations to be registered in a safe and untouchable way.
This fact fits perfectly not only with the modern and revolutionary mentality of the OneUP design and idea, but also with the way to make it known.
Our greatest wish is to create an aquatic rescue network of citizens, and for this it’s crucial to have the latest technological processes, which make easier its dissemination.
If you want to know more about our project or how to get our tokens, don’t hesitate to click here.
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Libra: the new Facebook cryptocurrency based on the blockchain technology was originally published in Cryptocurrency Hub on Medium, where people are continuing the conversation by highlighting and responding to this story.