Libra is a global crypto currency based on the block chain (Libra Block chain). It is an electronic system for the payment that offers dealings in WhatsApp Messenger and Facebook Messenger. It is instant messengers in all countries where the social network is present. In theory, with the help of crypto currency, Facebook users will pay for all sorts of effective purchases, which are now paid with real money. According to the developers, the need to create their own payment instrument arose due to the volatility of fiat currencies. Libra at https://libra-method.com will be a stable coin secured by several currencies (in particular, the US dollar and the euro).
Features of crypto currency Libra:
- The agreement algorithm provides for the presence at the initial stage of 100 valuators’, 2/3 of the votes of which will be enough to make changes to the network. It is assumed that the largest network participants will be valuators’, in the future the number of valuators’ can be increased.
- Libra is minimally interesting to speculators; the task of the coin is the stability of the course within the social network.
- Using Libra at https://libra-method.com will increase the speed of transactions in comparison with the banking service and reduce commission costs. It is expected that in the future several applications will be combined into one, resulting in an audience reach of more than 3.8 billion people worldwide.
- The only WhatsApp and Facebook Messenger wallet is Calibra. To open an account, a bank account is not needed, just a smartphone.
The share of the US dollar in providing Libra is more than 50%. Also, crypto currency will be provided by the euro, the British pound, the yen and government securities. In mid-June 2019, Libra was first introduced to the public, after which a hearing was held where answers to some questions were received. A full launch of Libra is planned for the first half of 2020. The developers assured that they would not launch the project until the regulators (especially American ones) were completely satisfied. According to the developers, Libra is not a crypto currency in the literal sense of the word. This is a means of payment within a social network that may fall within the definition of a product.
LBA in the crypto currency market
The LBA token became available for purchase only in the second quarter of 2018. At the moment, the coin can be bought for 0.09 dollars (+ 5% per day). The total market capitalization was almost $ 24 million, and the daily volume was $ 3 million. At the moment, LBA takes 223 place in the ranking of crypto currencies.
Thanks to a good team of specialists, Libra Credit has every opportunity to grow into a major lending project. Simplicity in obtaining and the general wave of popularity of the crypto currency world contributes to the popularization of loans in crypto currency. Crypto currency traders should pay attention to the LBA token, which in the future has good growth opportunities.
Crypto currency Market Regulation Tools
Among the tools for regulating the crypto currency market, the following are distinguished:
- Tax regulation. Taxation applies most often to trading on exchanges, but it can affect mining, ICOs and, in general, any operations with crypto currency. It is applied in the USA, Argentina and Singapore. But in some countries, the tax code has been opposed by amendments that except users from consumption taxes (Japan) or taxes on crypto entrepreneurship (Belarus).
- Official registration of exchanges. Allows you to open crypto-exchanges in the jurisdiction of the state on certain conditions. The conditions may be the provision of information about users, restriction of the amount of transactions for certain users (who did not provide full personal data, for example). It is applied in the USA, Japan, Luxembourg, Russia, Belarus and other countries.
- Recognition of the legality of ICO. Often requires revealing the identity of the organizers. It is introduced for the purpose of taxing ICOs and for the purpose of regulating ICOs. For the purpose of taxation and regulation, ICO is recognized, for example, by Russia, and for the purpose of protecting investors, for example, by Belarus.