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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