In 2021, the revelations are expected for the long-awaited cryptocurrency that Facebook wants to launch, as reported by CNBC. Facebook wants to revolutionize finance with its own global digital currency, according to CNBC. The initial proposal was made in June 2019 under the name libra, with the design being for a world currency that would be linked to a basket of currencies such as the US dollar and the euro.
But after strong reactions from global regulators, the team supporting the project lost important supporters, such as Visa and Mastercard. The Swiss-based non-profit organization Diem Association, which has undertaken the development of the currency, aims to launch a pilot with a cryptocurrency linked to the US dollar in 2021.
The source of the news, who wished to remain anonymous as the details have not yet been made known, said that the pilot currency will initially focus on transactions between individual consumers.There may also be an option for users to purchase products and services. However, there is no confirmed date and the schedule could change.
“I think it will start this year,” said Michael Gronager, CEO of blockchain analytics company Chainalysis. “It would be a missed opportunity if he did not.” “At the same time,” Gronager adds, “it’s just one of many initiatives underway, similar to the $ 1.5 billion cryptocurrency market. This is part of a larger movement, not a new movement on its own”.
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