Facebook and the new crypto currency payments: how you can profit from it

The Facebook cryptocurrency is called Libra and it will change everything.

They have been talking about it for a long time and now it’s official: the cryptocurrency owned by Facebook will be called Libra and it will arrive in a few months, at the beginning of 2020.

The announcement came after the informal rumor had been around for some time. At the beginning the name had to be Facecoin, but then they went for a name that refers less to Facebook and more to justice and equity prevailed: ‘libre’, in fact, in French means free, but above all the reference is to the balance, the universal symbol of balance and justice. Because these are, says former PayPal executive David Marcus who now runs the Libra project for Facebook, the values ​of the project: justice, balance and freedom. In addition to money, of course.

How will Libra work?

First of all it will be a digital currency, a cryptocurrency, so no printing of banknotes or coin production is foreseen. Then there are the technical features: Libra will not work as the very famous Bitcoin works, but it will be a ‘stablecoin’ that is its value will be anchored to fixed and constant references, just like the coins of the states. This will avoid too sudden fluctuations, a bit like those that have made Bitcoin famous and other cryptocurrencies particularly suitable for speculation.