Facebook recently released its own cryptocurrency known as Libra which was introduced to the public on June 18th of 2019. Facebook aims at making Libra a global currency that will be used across the continent. Their main focus right now is on the developing countries whose financial services are very poor. Their cryptocurrency which is transferred digitally can be sent to different individuals and can also be used to buy goods.  

Facebook CEO Mark Zuckerberg has partnered with so many companies in order to make this idea a success. The Libra Association will control the currency. The association consists of companies such as PayPal, Spotify, and Mastercard. Such companies are very important because they are the ones that control the financial and technological industry.

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Libra will be controlled by an independent system rather than a central bank system that many companies use. This has its own set of benefits, for example, with such a system security is usually well enhanced. One of the reasons as to why they refused to use a centralized system is because such systems are at higher risk of getting hacked. The government is also known for taking advantage of such systems and blocking transactions on the central system due to various reasons.
The system that they are using is what sets Libra apart from Bitcoin. Each company in the Libra Association doesn't have an individual say on how the transactions are done and how they are verified. They work together to ensure that every transaction and verification is done smoothly. Which is a good thing because there will be less disagreements and every company will feel that their say is taken into consideration. At the end of the day, teamwork is usually the best and this is what leads to growth in a company. 

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Not much is known about Libra cryptocurrency because it will be released in 2020. Facebook is still releasing important information about, Libra so that people can understand it in a better way. This will truly build anticipation for people who are interested in participating in such a transactions. Many financial regulators in different countries don't like this idea. Most of them have already released statements stating that if Libra is ever going to be used by their citizens, they have to follow the financial regulations that have been set in order to protect all their citizens' financial needs.