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0:00:00 Facebook’s Libra White Paper Claims Blockchain, Crypto After All
0:00:04 This update is brought to you by "CoinCheckup News Updates" and was originally published on "BitcoinNews.com".
0:00:11 The highly anticipated Facebook Libra crypto project has finally been demystified, with the social media giant releasing the Libra white paper today.
0:00:19 Conveniently touted as the platform to provide a simple global currency and financial infrastructure accessible to billions of unbanked people, the Libra project will eventually be a cryptocurrency, built on a blockchain and having properties sampled from both the Ethereum and Bitcoin blockchain frameworks.
0:00:36 The Libra team believes there isn’t any solution among the 2,000 cryptocurrency or so projects in existence today that is of a permissionless nature that could serve a global scale.
0:00:46 However, on the bright side for Facebook, along with its allies, they have a composite huge and possibly interwoven user base, making it convenient for user-transition between platforms through the cryptocurrency.
0:00:57 Facebook has also revealed the launch of a cryptocurrency wallet Calibra in 2020 which will invariably give over 2.38 billion monthly active users access to use the Libra cryptocurrency for transactions across its messaging infrastructure.
0:01:11 Now the world will just have to wait and follow the developments of the Libra project closely, as there may, in fact, be a huge adoption potential for the cryptocurrency yet.
0:01:21 Meanwhile, it is of global interest in the crypto ecosystem to consider how the eventual launch of the Libra coin may impact the overall community.
0:01:29 As of the yet, there was no plausible change in the crypto market upon the news of the release of the much anticipated Libra whitepaper.
0:01:36 Thanks for watching this video!
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