Another series A fundraise brought Libra Association cryptocurrency 25.5 million investmentsDavid Kemp
Coinbase is a cryptocurrency exchange, the field of activity is cryptocurrency exchange: bitcoin, Ethereum, litcoin, bitcoin cash, Ethereum classic on Fiat currencies. The company is registered in the U.S. state of California city of San Francisco. Exchanges take place in 32 countries.
Simultaneously conducts transactions of exchange and storage of bitcoin in 190 countries, given that according to the UN there are 195 recognized countries in the world, the coverage area can be reffered as the whole world. It has a rating of 3.7 points out of a possible 5 points according to runet ratings.
It has been working in the investment market since 2013, at the moment one of the Directors of the company is the Chairman of the bitcoin fund, Brock Pierce. The company is not only engaged in investments, but has released its cryptocurrency BCAP, at the time of writing, the price of this token is 57 us cents per unit of goods.
All Libra names:
- Facebook coin
- Libra, sometimes reffered to as Libra Association because of the Association of companies for the coin.
Is Libra not a cryptocurrency?
Some authoritative experts in the cryptocurrency world criticize the new token. In particular, Meltem Demirors, Chief Strategy Officer of CoinShares, the leading digital asset manager, stated that Libra is not a cryptocurrency:
- The coin is highly centralized unlike bitcoin and is managed by a group of private companies belonging to the Libra Association, which can arbitrarily affect the value of the asset in the market.
- The coin, unlike other cryptocurrencies, is not an asset, on the contrary, it is secured like other Fiat currencies by other assets.
- Facebook is a social network known for its scandals, which is not able to store the personal data of registered users and merges this data to third parties. Can investors trust Libra's subsidiary and not leave their data to third parties along with the investment? Is a question posed by Meltem Demirors.
There is no confidentiality of personal data of libro holders, as in bitcoin, there are extremely high risks of information leakage or misappropriation of investor funds by third parties in order to please the political or economic environment, which is impossible in the bitcoin system.
Mark Zuckerberg is a businessman with a world name and, according to him, the "libra" will be backed by such assets that will allow the coin to behave stably on the cryptocurrency exchange. There will be no large fluctuations and, therefore, large losses due to panic on the stock exchange. However, this advantage looks like a disadvantage from the other side. Large dumps in alternation with pampas, allow traders to earn millions of dollars, and also earnings on arbitration of cryptocurrencies will be liquidated. Libra is one of the first crypto currency with a fixed exchange rate.
The coin will be extremely interesting to people who want to invest their money in stability. It will allow you to save money without inflation.
It will be possible to pay with "libra" not only on the Internet, but also in ordinary stores, almost all over the world, which is extremely convenient.
A common Facebook app is being developed with a link to a smartphone, which will allow account holders to have their "wallet" always in their pocket.
Central banks are interested in this cryptocurrency because it is centralized and provided with assets, and also provides an opportunity for residents of third world countries not connected to the Central banking system to make deposits and make calculations, which can potentially bring many billions of dollars in profits to Central banks of developed countries.
There are 27 major investors in the project: Uber, ride-hailing company, the main office is located in San Francisco, but operates around the world; Spotify, a very popular music streaming platform for Western countries; PayPal, a system of electronic payments on the market since October 2002, popular in the West, banking systems "Visa" and "MasterCard". which do not need introduction; Stripe, a large IT company from the USA, engaged in the development of electronic payments; eBay, a company that does not need introduction as well, etc. This is without taking into account investors from individuals.
At the same time, there is a factor of economic activity in social networks and other messengers, which allows us to be quite optimistic about the promotion of the Libra cryptocurrency.
It can be noted that the opinions of supporters and opponents of Libra are diametrically opposed, but at the same time their arguments and facts are absolutely identical.
However, at the moment, Libra is rapidly gaining investments and large investors. The Central Bank, such a large financial power as France, showed interest in this cryptocurrency.
As always in the cryptocurrency world, investors must decide for themselves if Libra has a future or simply does not. Whose arguments are more convincing: Mark Zuckerberg or Meltem Demirors?
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