When will libra be released (when will libra be launched)?

08/11/2023 14:05 • Blockchain Buzz • 101 views

When will libra be released (when will libra be launched)?

When will libra be released? According to official news, libra is the first blockchain-based digital payment network. It is a global open platform that provides enterprises with a secure, reliable, and decentralized payment system.

Libra release schedule: when will it be released?

What is stablecoin (Libra)? What is libra? How does libra facilitate cross-border transactions? Libra was launched in May 2020, marking the official entry of libra into a new phase. Starting January 2020, a company registered in Switzerland called Liquifi (Credit Agreement) was established.

When will libra be launched?

Editor’s note: This article is from BlockBeats (ID: blockbeats), authorized by Odaily Star Daily for reprint.

With the increasing demand for digital currencies by governments around the world, and to support encrypted assets and provide faster payment clearing systems for financial markets, global central banks have introduced a new, trustworthy, and unregulated reserve mechanism called Libra. But how does libra work?

Libra is a USD stablecoin based on blockchain technology. It uses peer-to-peer transactions to facilitate value transfer and exchange, thereby reducing remittance costs and increasing transaction speed. This means that as long as you hold a digital token such as bitcoin or ethereum, you can buy and sell these tokens without the intervention of a third party and perform transfer operations on different platforms. By depositing funds into the wallet and allowing anyone to convert them into fiat currencies at any time, users can freely send fiat currencies pegged to the USD for instant settlements without the need for intermediaries. Due to this novelty, we believe that this project will come soon.

First, if people want to buy digital currencies and want to own them or use digital wallet accounts, they need to have an email address or mobile phone number; then, each user’s personal information will be anonymized and stored on their accounts for a certain period of time, so it will not affect the identity verification data of others; moreover, they can decide whether to accept the funds as payment based on their own financial status. Once there is a news source confirming this statement, they will receive private keys and keep them in a private repository.

Second, if residents of a country want to apply for bank loans, they must first visit the country’s domestic deposit proofs from another country. If citizens cannot obtain part of the amount they owe, there is no need to rely on local trust funds to fund these activities. Finally, for those companies that wish to operate overseas, they may also need some cash.

There is currently no idea of issuing CBDC. But if we say that 2017 was the era of Facebook, in early 2018, due to privacy concerns, the Libra team chose US Treasury Secretary Steven Mnuchin as the CEO, who said, “Many companies are now starting to develop solutions for Central Bank Digital Currencies (CBDC).” In April this year, MNUchain announced that it had joined the Libra Association.

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When will libra be released (when will libra be launched)?

When will libra be launched?

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