Facebook to launch Libra cryptocurrency in 2020

Libra, a digital currency introduced in 2020, is backed by financial assets to reduce volatility. It is managed by the Libra Association, a nonprofit based in Switzerland, with founding members like Uber and PayPal. The association validates transactions and manages the currency reserve. Calibra, a digital wallet for Libra, will be available on Messenger, WhatsApp, and as a standalone app, allowing users to send Libra and make purchases. The Libra blockchain is pseudo-anonymous, keeping financial data separate from user profiles, and Calibra account information will not be used for ad targeting on Facebook platforms.

What new insight or understanding did you gain from this video?