Facebook Releases Libra Cryptocurrency Whitepaper and Testnet

By CCN Markets: Facebook has revealed the white paper for its much-hyped cryptocurrency, “Libra.” After months of speculation, Facebook has outlined the vision for its crypto project and released the test-net for its blockchain.

Facebook’s cryptocurrency will operate through its Messenger app and WhatsApp to power peer-to-peer transfers and retail payments.

Facebook claims the Libra cryptocurrency is built on a secure, scalable and reliable blockchain, backed by a reserve of real assets. The ecosystem will be governed by the Libra Association, a consortium of partners including Visa, MasterCard, and Uber.

Libra has also announced its partners. | Source: Libra

Facebook believes its Libra cryptocurrency will kickstart the “internet of money” and empower people that don’t currently have access to financial services.

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