Important Things You Need to Know About Facebook's Libra Currency

Are you a tech enthusiast? If you are, then you are likely to know that the social media giant Facebook is set to launch a digital currency of their own. In as much as this is in the world of financial technology, it definitely ha an impact on the tech community at large. There are many ways in which such a currency can enhance how people use and interact with technology. Having said that, here are five things you may want to know  how facebook libra works. 

It is a Digital Currency

Unlike your normal legal tender dollar notes, the Libra currency lives online on your phone or on the computer. That' right! it is sort of like Bitcoin. However, it differs from Bitcoin in many ways, and you will soon find out how. 

Libra is Controlled 

Unlike Bitcoin, which happens to be an untamed beast, Libra is a controlled currency. You will be able to know who sent you the cash, and possibly even where they sent it from. These are things that you cannot do with Bitcoin since Bitcoin was designed for the sole purpose of anonymity. Additionally, Bitcoin has no government interference. However, with Libra, there are several companies and stakeholder that have come together each putting in a minimum of ten million USD just to get things rolling. 

Shop Online 

Just like with your PayPal and Visa, you will be able to use Libra to make all your online payments in places where the merchants accept the currency. This is a good thing because the world of e-commerce is growing and most merchants want to do their best to accommodate all methods of payment.  What is facebook libra? Check it out!

Various Industries Developing for Libra 

There are many industries that have to develop libra. This is because digital payments are quickly overtaking the hard cash payments as it once used to be. Taxis, banks, online stores and more will have to develop for this platform. If you happen to be a developer, you need to make sure that you pick the right place to create and test your code especially if you want access to several different APIs that you can integrate with. 

Buying Libra 

Just like you can purchase Bitcoin, you will also be able to purchase Libra. However, the only difference is that Libra will be a more stable currency so you shouldn't be too worried about fluctuating market prices as a merchant. Click on this link for more  details: https://en.wikipedia.org/wiki/Digital_currency.