If you are even remotely associated with the world of crypto trading or the blockchain technology, chances are that you have learnt a tad about Libra. Libra is Facebook’s endeavour in stepping into the domain of cryptocurrency. Merchants, investors and speculators are all waiting with bated breath to see what seismic shifts Facebook, with its launch of Libra, brings into the world of cryptocurrency the next year. If all things go according to what has been planned, Libra could change the face of cryptocurrency and crypto trading like none other on the block. Forex Academy might have some more news on the same domain for you to catch up on. Look them up today and enlighten your minds.
In this article, we shall look into how Facebook and Libra serve to be an acidic combination for the e-commerce world, and we shall also see how it can help merchants and businesses to alleviate their sales and reap more profit. However, for the uninitiated, let us first talk a bit more about Libra and why it has become a hot topic of discussion.
Let Us Talk Libra
First things first- Libra is just another digital currency, but not your run-of-the-mill types. Now coming back to Libra, we have dedicated an entire article to discussing what Libra has to offer in upping the game of blockchain and cryptocurrency owing to its utility.
Libra, to begin with, is a digital currency backed by several financial assets and the U.S. Treasury securities. This, by default, means that the risks and volatility associated with the functioning of this digital currency is minimal. Other cryptocurrencies like Bitcoin, Ethereum and the like have high volatility and suffer fluctuations in their values. This is what led to the minor debacle in the domain of cryptocurrency right after the launch of Bitcoin in 2008.
However, with Libra, the scenario is refreshing and completely different. Merchants know what they are dealing with and the amount that they are transacting in. Libra promises clarity and stability in transactions, and this is what sets it apart from every other cryptocurrency that the world has dealt with in the past. Also, while talking about Libra, it becomes mandatory to stress on how it promises to make cryptocurrency a household name. With Libra, the perks of transaction in cryptocurrency would not be limited to the traders and investors only, but also to every individual who would want a digital form of transaction. Libra promises to cut down every basic transaction to its very bone and make cryptocurrency a household name.
Facebook and Libra To Bring The Unbanked To Online Stores
The most significant plus of Facebook’s Libra is its mission to bring the unbanked to the online stores. This might sound highly ambitious. But given all the success Facebook is enjoying and the way it is touching new heights with every project, it shall not come as a surprise if it exposes all the unbanked to the world of online shopping as well.
Facebook is known to bring all the nations, including some of the poorest, on a shared platform which increases the connectivity among every nook and corner of the world. And how is Libra hoping to achieve the ostensibly impossible feat? Libra shall help the unbanked to create accounts that they can use as a means to deal in the world of online shopping. This shall seriously be the game-changer of the E-commerce world provided that it is bringing approximately 1.7 billion people on the platform of Facebook. However, amidst all the positivity that Facebook’s Libra promises, apprehensions are still making its way. Given the fiasco the world had seen regarding cryptocurrencies quite after their launch in 2008, investors and speculators are still not very sure about what Libra has to offer. Therefore, Facebook has also come up with alternatives.
Conclusion
When it comes to taking up new projects and hitting new milestones with each one of them, nothing has been any more successful than Facebook. Now that Facebook is foraying into the field of cryptocurrency, it remains to be seen what wonders it can create in shaking up the E-commerce world and upping the game a few notches higher.
