Facebook Cryptocurrency: Visa, Mastercard, PayPal, Uber Among Top Members of Consortium, Report

reportedly, Facebook Inc. has signed up more than a dozen companies including Visa Inc., MastercardInc. PayPal Holdings Inc. and Uber Inc. These technology companies form a consortium which will find a similarity to XRP or Stellar Lumens validators through the Stellar Foundation. 

Facebook will reveal the model/whitepaper of its cryptocurrency, Libra on 18th June. The Whitepaper is the basic design of any blockchain based token that outlines the protocol, governance model, total supply, inflation characteristics, and the utility.

The essential criteria of any cryptocurrency warrant decentralized control and borderless transactions. While Facebook cryptocurrency is expected to be banned for the nations that the US has put sanctions on, nevertheless, mainly the cryptocurrency will be made available to about $2.3 billion users worldwide.

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#Facebook #Stablecoin #VISA #Mastercard #PayPal #Uber

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