I am sure that most people have heard of cryptocurrency on the internet or in the news. However, many do not know what cryptocurrency means. Many believe it is a new type of currency. In laymen’s terms, cryptocurrency is used to refer to a new type of digital money. Cryptocurrency is an application of a technology called blockchain. It is the medium used of exchange in the blockchain. A unit of cryptocurrency is a set of letters & numbers coded using cryptography algorithms that can be verified using the blockchain. This makes cryptocurrency virtually impossible to clone & counter ..read more

Even-though Libra is in the early stages; many companies have expressed interest in being part of the new cryptocurrency. One such company is Binance. Binance wants to list Libra in their exchange when the cryptocurrency releases. Binance is one of the largest cryptocurrency exchanges. It was founded in 2017. Binance currently trades about $2.9 billion in cryptocurrency daily. Binance has a cryptocurrency named Binance Coin. It has a market capitalization of $4.8 billion. Binance is not without its own controversies. On May 7, 2019, a large scale breach led to over 7,000 bitcoin valued arou ..read more

The Libra Association is technically the central bank for Libra cryptocurrency. It is made of 28 founding members including MasterCard. How will MasterCard benefit from being part of the association? They are ensuring their long term survival. MasterCard is a payment processor. They make their money on transaction fees on each MasterCard credit card & debit card transaction. Last year they made $15 billion in revenue. Libra attempts to replace credit cards & debits cards. Libra will bypass services like MasterCard, Visa & American Express when making payments to merchants. Unli ..read more

Libra sets out to be a genuinely stable cryptocurrency adopted by masses. With a potential user base of 2.3 billion across the globe, Libra will become the biggest cryptocurrency at launch. This is only if Facebook & The Libra Association can jump through the regulatory hoops to launch it. Here are the top 5 uses for Libra: 1) Cross-border peer to peer money transfer Most of the peer to peer money transfer services are regional. You cannot use Venmo to send money to somebody outside of the United States. There are very few services that let you transfer money across borders, but ..read more

The Libra Association is the de-facto central bank of the Libra cryptocurrency. It is set up to regulate the cryptocurrency and maintain liquidity. Currently, it is made of 28 founding members. It plans to increase that count to 100 when it launches in 2020. One notable founder in the list is CoinBase. CoinBase is the largest and most trusted cryptocurrency exchange in the world. Facebook is new to the cryptocurrency game, but CoinBase is a veteran to the industry. CoinBase is one of the few places where you can buy a cryptocurrency for debit & credit cards and transfer it back to your ..read more

Calibra is the official wallet for the Libra Cryptocurrency. It is developed and managed by Facebook. Calibra also functions as a peer to peer money sending service similar to Venmo. On the surface, Calibra is a mobile app available for free on iOS & Android. Users can sign in using their Facebook account. However, they would need to verify their identity by sending a picture of their government issued id. Once signed in, they would be able to see their friends who are also using Calibra. They can select a friend and send Libra or request for payment in Libra. Behind the scenes, Calibr ..read more

After reading the official whitepaper about the Libra cryptocurrency, I can identify several concerns regarding privacy, regulations, and the fact the currency is indirectly controlled by profit-making corporations. These members (corporations) of The Libra Association will probably earn dividend income from fiat money invested in government bonds. The biggest problem with Libra and with any cryptocurrency is; what if you lose your wallet? The main advantage of cryptocurrency is the currency is decentralized and stored digitally either in an online wallet or locally in the user’s device. W ..read more

Since the digital currency is not officially released yet, it is hard to accurately tell the exchange rate between Libra and USD right now. However, we can estimate the promotional material provided to us. 1 Libra = 1.04 USD 1 Libra = 19.68 MXN Since assets contributed to The Libra Association back Libra’s value, I safely say that this would be the initial price to buy Libra at the time of launch. Each member of The Libra Association contributes $10 million to the Libra Reserve. This is held in major world currencies including United States Dollar, Japanese Yen & British Pound. It i ..read more

If you come here looking for the astrological sign named Libra, this is not the place. We are talking about the cryptocurrency called Libra. It was long rumored that Facebook is working on a cryptocurrency of its own. They finally announced it on June 18th, 2019. Before that, it was called as GlobalCoin and Facebook Coin. Even though Facebook is the primary developer of Libra, a non-profit organization named The Libra Association, manages it. Facebook is one of the founding members of the organization. The Libra Association is incorporated in Switzerland, mainly because of the progressive ..read more