Facebook CEO Mark Zuckerberg is expected to unveil details of an ambitious plan for his company to create a new global crypto-currency. A white paper outlines a plan that is designed to create a new global currency. It will represent the entry of the social network site into the lucrative financial services market. The crypto-currency is called Libra. Facebook said it is aimed at the millions of people around the world who cannot get a bank account. Libra will allow people to send and receive payments anywhere in the world with minimal fees. The banking will be done online via the myriad of Facebook-owned apps. The 2.7 billion users of Facebook and WhatsApp will have access to the Libra crypto-currency.
Analysts say Libra has some similarities to the Bitcoin crypto-currency. However, a major difference is that Libra will be a more stable currency and will avoid the wild fluctuations in value that Bitcoin has experienced. Libra will be backed up by a basket of currencies, such as the dollar, euro and yen. It will also have the backing of major multi-national companies like Mastercard, PayPal, Spotify and Uber. The new crypto-currency could revitalize Facebook's fortunes. The finance company RBC Capital Markets said: "We believe Libra may prove to be one of the most important initiatives in the history of the company, to unlock new engagement and generate new revenue streams."
1.Facebook CEO Mark Zuckerberg is expected to unveil details of an ambitious plan for his company to create a new global crypto-currency.
Mr Werner unveiled his new strategy this week
2.The new crypto-currency could revitalize Facebook's fortunes.
We should all strive to reunify our motherland and revitalize our nation.
Facebook CEO 马克·扎克伯格预计将公布一项雄心勃勃的计划的细节—他的公司将创造一种新的全球加密货币