For the past six months and maybe even longer, Facebook has been eyeing the cryptocurrency industry in what many believe to have been in a bid to launch a product in the space. It’s the hiring of blockchain experts, buying of the blockchain company Chainspace, and hiring of several industry leaders was a dead giveaway.
However, there were still uncertainties as to what the social media company was about to do which meant the cryptocurrency community had to rely on the bits of information pieced together by media outlets. As of today, that is no longer the case since the much-awaited Facebook coin's whitepaper has been launched.
The 29-page whitepaper tells a lot about what the social media company has in store for Libra, its global cryptocurrency which will be launched in the first half of 2020. Based on the whitepaper and details given by Facebook executives, there are several reasons why Libra cryptocurrency is the future of global payments.