Facebook’s Crypto Wallet ‘Calibra’ is Coming to WhatsApp in 2020

Libra website homepage By CCN Markets : The whitepaper of Libra, a crypto asset created by a non-profit organization in Libra Association led by Facebook has been formally released , disclosing key details of the digital asset and the blockchain protocol that supports it. As speculated, Libra will operate as a stablecoin backed by the Libra Reserve and will represent the value of existing assets such as reserve currencies. Early preview of Calibra crypto […]

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💵💵 – Calibra, a subsidy of Facebook, is one of the main ways FB plans to monetize from their crypto Libra. Since Libra aims to be completely decentralized in the future, FB can help get it off the ground but eventually will need it to run completely independent of Facebook or any other entity/person. While we still don’t know how many Libra Investment Tokens (LIT) FB will monetize from, the creation of Calibra is where FB can really benefit from the most. Cryptocurrencies need a wallet to store the coins on. While I’m sure there will be hard wallets to store your LIB on, Facebook’s Calibra wallet is likely going to be the first to market and easiest integration to set up with from one of Facebook’s platforms. If FB can get lots of people to store their LIB on Calibra, they can act as a Bank and profit – offering loans, credit, money transfer, etc with the customers stored coins. This essentially eliminates the need for a bank all together, which is why I think the FEDs and financial industry are going to put up a strong fight. Facebook needs to make sure they’ve earned back the trust of the public before Calibra takes off, but the potential if so is astronomical. This would change the global monetary system completely. And no – Calibra will not share any financial activity with FB to better target ads, hence why it’s an independent subsidiary. Fun times ahead! #fb #facebook #libra #lit #lib #crypto #monetarypolicy #markzuckerberg #blockchain #decentralized #calibra #innovation #buylowstayhigh

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