Facebook starts testing its cryptocurrency Libra as early as next week

The Facebook cryptocurrency project will be presented to the general public next week, The Block reports, citing an introductory publication prepared by the company.

The Steyblcoin Libra will be based on the blockchain of the same name and will be provided with the “reserve of real assets” of the Libra Reserve, which will become the basis of its “stability, low inflation, global distribution and interchangeability” of the tool.

The Libra blockchain will be based on open source principles under the Apache 2.0 license. It is assumed that the Libra test network will be launched on June 18, thanks to which the company will be able to assess the public reaction and designate future directions of its activities.

The Block also lists potential partners for the initiative, which includes several representatives of the blockchain industry, including Coinbase Exchange and Xapo custodial service, as well as participants from various industries, including e-commerce (eBay), investments (Andreessen Horowitz, Union Square Ventures), payments (Visa, PayPal, Mastercard), telecommunications (Vodafone), etc.

Earlier this week, The Wall Street Journal confirmed that Visa, Mastercard, Uber and PayPal are the investors in the Facebook cryptocurrency project.

Publication date 06/16/2019
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