The Facebook company has announced plans to introduce a new money sending platform dubbed Libra cryptocurrency, which will also double up as the latest payment channel.
According to Facebook, Libra which is set to be launched early next year will make life easy for users.
The company says that the platform will be built on the Libra Network and will be of great help to people without bank accounts and those with limited access to banks.
To make it stand out among the already existing such platforms, Facebook has announced plans to make the platform run a lot faster to enhance efficiency.
It will as well help send money faster and cheaper, with the intention being to ultimately turn it into a public blockchain and will operate on a blockchain platform; the Libra network.
The company says that it will, however, not manage the platform, but will instead entrust the job of overseeing its launch and currency governance to the Libra Association and independent nongovernmental organization.
The Libra wallet, dubbed the Calibra wallet, will also be able to send like a social media message though it will be a separate app.
It will as well be compatible with Facebook Messenger and WhatsApp applications.
Facebook currently has 2.4 billion users, all of whom will be able to access the platform upon launch.
#HivisasaInternational