Libra is built on an open-source blockchain called the Libra Blockchain featuring its own proof-of-stake protocol. The Libra mission is to reinvent money and transform the global economy so people everywhere can live better lives.

Backed by a reserve of various assets designed to give it intrinsic value, it is governed by the independent Libra Association tasked with evolving the ecosystem. Members of the Libra Association consist of geographically distributed and diverse businesses, nonprofit and multilateral organizations, and academic institutions. Founding members include Mastercard, PayPal, Stripe, Visa, eBay, Facebook, Lyft, Uber, Spotify, Andreessen Horowitz, Vodafone Group, Kiva, Mercy Corps, Women’s World Banking and more.

Facebook teams played a key role in the creation of the Libra Association and the Libra Blockchain, working with the other Founding Members. While final decision-making authority rests with the association, Facebook is expected to maintain a leadership role through 2019.

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Rumors of PayPal Entering Crypto Highlights the Value of Instant Payments
By June 30th, 2020
Business News, Cryptocurrency news, News, Personal Finance

Rumors of PayPal Entering Crypto Highlights the Value of Instant Payments

By June 30th, 2020

PayPal may just be entering the cryptocurrency arena. This is based on recent speculation following a Coindesk report, which concerned information shared by three anonymous insiders from the global digital payments giant. Meanwhile, others have pointed out that ongoing recruitment by the company further supports these rumors.