Facebook's cryptocurrency Libra,cerita lucah akak garang announced in June last year and then delayed after running into a seemingly endless set of obstacles, might finally launch as early as Jan. 2021.
This is according to a report by the Financial Times, which cites three unnamed people involved with the project. However, it seems that this new Libra will be a limited version of what Facebook originally envisioned.
Libra was supposed to launch several digital coins, with some of them representing individual fiat currencies, like the U.S. dollar, and one being a composite of all these coins. And even this was a change from Libra's original plan of launching one coin that would be backed by a basket of several currencies.
Now, the FTreports, the company plans to launch a U.S. dollar-pegged stablecoin, and roll the other currencies at a later point.
Dollar-pegged stablecoins are a fairly well-known type of cryptocurrency at this time. Companies such as Coinbase, Tether Limited, and Paxos have launched such coins (USDC, USDT, and BUSD, respectively), with the coins' total market caps reaching hundreds of millions, or even billions of dollars. The point of stablecoins is to provide some price stability and predictability to users, as opposed to the notorious price volatility of cryptocurrencies such as Bitcoin and Ethereum.
This is probably why the The Libra Association, a Geneva, Switzerland-based non-profit founded by Facebook and several other companies, has decided to pare down its ambitions when it comes to Libra. Dollar-pegged stablecoins have been around for a while, and it's harder for regulators to dismiss them as dangerous, as they did with Libra's original plan.
Launching just one coin that's pegged to a single currency might cause other problems for Libra, however. At launch, people at Libra told me that the plan is to minimize volatility, "so holders of Libra can trust the currency's ability to preserve value over time." The company also said one of the primary goals of the project is to give the 1.7 billion people who are unbanked access to a global currency, and remittances were often mentioned as an important use case. But if the Libra, the coin, is pegged to the U.S. dollar, this could mean additional costs for people in countries outside of the U.S.
To get where it is now, Libra had to shed a couple of partners (notably, PayPal, which recently launched support for Bitcoin and other cryptocurrencies on its platform) and appoint a couple of new executives, including ex-chief legal officer of HSBC, Stuart Levey, who currently serves as Libra CEO. The company expressed hope the changes it has implemented will placate regulators, which worry about large tech companies acting as financial institutions.
Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH.
Topics Facebook Cryptocurrency
Perfecto: "Now we have HObbit as the IGL"
Quordle today: See each 'Quordle' answer and hints for June 26, 2025
Scientists find subtle clues ancient Mars had rainy days, too
Save on Kindle bundles ahead of Prime Day 2025
Newest Nisei Week Event Spotlights Geta Dance
Best early Prime Day Samsung Galaxy deals: Shop Galaxy Buds, Galaxy Tabs, and more
Best robot vacuum deal: Shark AI voice control robot vacuum for under $300
The OLED Burn
NBC4 Celebrating APA Heritage
Best TV deal: Save over $800 on 85
Kokoro to Headline ‘Dancing with the Rising Stars’ Benefit
AMD FSR 4 vs Nvidia DLSS 4 at 4K
Kafka in Kurdish
NYT Strands hints, answers for June 27
Enjoy Okinawan Food and Culture at Bazaar
Best TV deal: Save 34% on the Insignia 70
If You Should Fall
Glastonbury 2025 livestream: How to watch Glastonbury Festival for free
V3 Digital Media Conference at JANM
Is Ray Tracing Worth the FPS Hit? 36 Game Performance Investigation
Lindsay Lohan blesses Twitter with her opinions about BrexitTom DeLonge quit blinkWatch PartyNextDoor's steamy new video featuring Kylie Jenner on SnapchatYou will want to be best friends with this precocious 7There is nothing more relatable than this squirrel eating a hot CheetoPolitician's moving speech: 'Marriage equality vote is a license for hate'Bear makes trespassing cute by jumping into a private poolRunning down memory lane with Trump's justKFC announces yet another Colonel SandersKFC announces yet another Colonel Sanders Netflix finally offers option to disable autoplay previews 'Birds of Prey' isn't a box office disaster, ignore the negative hype Hackers can hijack Philips Hue smart bulbs to take over your home Instagram's new feature shows users who appear most often in your feed Art continues to imitate life in ‘High Maintenance’ Season 4 Huawei sues Verizon for allegedly using patents without permission Electric vehicles dominated the Super Bowl Motorola Razr fails CNET's durability test, 'breaks' after only 27,000 folds Ericsson pulls out of MWC due to 'health and safety' concerns from coronavirus 'Through the Darkest of Times' review: A warning from the past
0.14s , 9869.015625 kb
Copyright © 2025 Powered by 【cerita lucah akak garang】Facebook's Libra might launch in January, but there's a catch,Feature Flash
