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Month: July 2019

Payment Giants Unite in Numbers to Join Facebook’s Consortium in Support of its Crypto Project – The Libra Coin

July 17, 2019 krakenInternet

Project Libra, Facebook Inc.’s digital currency plan to roll out a one-of-a-kind stablecoin that retailers can use is catching speed and will be set to go in 2020.

A few weeks ago, the brains behind the project promised to release a white paper that would explain how this crypto coin will operate and why it would be a better choice (compared to already existing cryptocurrencies like Bitcoin) for merchants and in-store retailers to trade-in.

And the word is already out that four payment giants are ready to be part of Facebook Inc.’s management consortium known as the Libra Association— whose members will co-manage the Libra coin.

Some of the payment giants set to join the union include PayPal Holdings Inc., Mastercard Inc., Stripe Inc., Visa Inc., and over a dozen other firms who are investing $10 million each to finance the alliance.

However, Facebook has chosen to remain silent ahead of the impending official release of Project Libra’s details, leaving the names of partners to media and public speculation. But at least we know that some members of the Libra Association will serve as the Nodes of the crypto’s network. The role of nodes is to verify and record all …

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