Facebook plans to make the cryptocurrency transferrable with zero fees via Facebook products including Messenger and WhatsApp.
The cryptocurrency world is abuzz with reports of the likely release of a white paper by Facebook about its rival to Bitcoin that may be called Libra. Speculation is rife whether a likely Facebook proposal to allow its use on Fb Messenger, Whatsapp and Instagram could kill off its rival blockchain currencies including Bitcoin. But Bitcoin currency continues to trade rangebound at $7,925 and the cryptocurrency’s users have not reacted to the reports.
However, Facebook founder and chief executive Mark Zuckerberg will face huge problems in getting regulatory nods from national regulators the new blockchain currency. Meanwhile, there are reports that the Reserve Bank of India (RBI) is proposing a law to imposing up to 10 years’ jail for buying and selling of cryptocurrencies.
Libra was reportedly born out of Zuckerberg’s pet project by the same name to head which he has recruited former boss of PayPal David Marcus, who heads the Facebook blockchain team.
