Crypto refers to the various types of digital assets that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies, such as Bitcoin and Ethereum, are the best-known examples of crypto assets.
However, crypto assets also include things like non-fungible tokens (NFTs), which are unique digital assets that can represent anything from artworks and collectibles to real estate or even digital identities.
Facebook Digital Currency
(DCI) is building the technical infrastructure to support crypto assets and enable their mainstream adoption.
The DCI team is made up of experts in cryptography, security, payments, product design, and engineering. We’re collaborating with regulators, academics, and industry partners to explore how best to leverage the power of crypto assets and blockchain technology to make money more inclusive and empower billions of people around the world.
Libra is a new global currency powered by blockchain technology. It’s designed to be a more stable and efficient way to move money around the world, and it’s built on the idea that everyone should have access to financial services that are affordable, safe, and easy to use.
Libra is built on a secure, scalable, and reliable blockchain that can handle billions of transactions per day. The Libra network will be open to everyone, and anyone can build apps that work with Libra.
Libra is designed to work with existing currencies, so you’ll be able to use it anywhere that accepts traditional currencies like the US dollar or the euro.
Libra is also a more efficient way to move money around the world. When you send Libra, it will be converted into the local currency at the recipient’s end, so there are no cross-border fees or foreign exchange rates to worry about.
Why is Facebook Interested in Crypto
Facebook has been interested in crypto for a number of years. In 2014, the social media giant started investigating the potential of blockchain technology, which is the underlying technology behind Bitcoin and other cryptocurrencies. Then, in early 2018, Facebook hired David Marcus, the former president of PayPal, to lead a new team focused on blockchain.
Since then, Facebook has been working on a number of different crypto projects, including a stablecoin called Libra and a digital wallet called Calibra.
Facebook’s interest in crypto is twofold. First, the company believes that crypto could help it reach its goal of connecting billions of people around the world. Second, Facebook sees crypto as a way to make money more inclusive and empower billions of people around the world.
How Facebook’s Crypto-Ready Future will Shape The Digital World
Facebook’s crypto-ready future will shape the digital world in a number of ways.
First, Facebook’s forthcoming digital wallet, Calibra, will make it easy for people to send and receive Libra. Calibra will be available on Messenger, WhatsApp, and as a standalone app.
Second, Facebook is working on a number of initiatives to make it easy for developers to build apps that work with Libra. For example, the company is developing a software development kit (SDK) that will make it easy for developers to integrate Libra into their apps.
Third, Facebook is working with a number of partners to help promote the adoption of Libra.
