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Facebook cryptocurrency

The Facebook cryptocurrency will be called Libra, has been speculating for a long time with this token and about the relationship of this social network and the cryptocurrencies.

Finally, it seems that the cryptocurrency of Facebook will see the light. This, in my opinion, will bring many more people into the crypto world. Now that a brand as big as Facebook comes in, many users will want to know more about Bitcoin and cryptocurrencies.

Facebook cryptocurrency

There is a question in the air these days, if Facebook blocks the cryptos ads, how will it advertise Libra? Is it lawful that nobody can put ads related to cryptocurrencies on their social network and they can advertise their token?

Libra

Is a Libra a cryptomoneda?

The first thing to identify is that Libra is not a decentralized “cryptocurrency“. In other words, although it will work through a blockchain, it will be controlled by a corporation.

Like Ripple, there are people, companies that are controlling. It’s not like Bitcoin, so it’s not so reliable.

Let’s take an example. If you have Bitcoin, no one has to know you have it, otherwise you have shared your wallet. But with Libra that doesn’t happen. To be through Facebook, they will be able to know if you have or not Libras and perhaps in the future they can use it as banks. In other words, when you don’t pay a self-employed or collection receipt, your wallet will be directly seized.

So, as happened with Ripple, you have to take it into account, but it should not be the currency that is used as the main one. If what you really want is to bet on a much more decentralized and transparent system.

Libra Blockchain

Uses of the Facebook cryptocurrency

In principle it has been announced that it can be used in WhatsApp and Facebook Messenger. In fact if you enter your messenger now you will see a new button with the dollar symbol.

The idea is still good, the problem is, as always who supports it, that is not very reliable after the latest scandals of transparency and what it does with our data. And that all of us who know a little about the world of cryptocurrencies know that in the end this type of initiatives do not seek the common good but that of the usual, the elites and their puppets governments.

Definitively on Libra

It is necessary to be attentive, it is clear that it is another player in the field of game and it is necessary to consider it. But never forgetting who is behind and what happens when something is controlled by a minority with so much power.

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