An e-commerce giant joins the Facebook digital currency project
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Answer An e-commerce giant joins the Facebook digital currency project
Canadian e-commerce platform Shopify has joined the Libra Association, the governing board of Facebook’s digital currency.
With that, Shopify has joined a group of already existing companies including Coinbase, Spotify and PayU as a member of the not-for-profit organization, which operates the blockchain and the Libra Association as well as runs validation nodes on its network.
Facebook Currency is a stable currency backed by a basket of real-world assets, developed by Facebook subsidiary Calibra in an effort to provide the world’s 1.7 billion unbanked users with access to financial services.
Shopify spends a lot of time thinking about how to make commerce better in parts of the world where money and banking can be so much better. That is why we decided to become a member of the Libra Association.
Read:The co-founder of PayPal stated: If you are only a supporter of the blockchain, this is an anti-Bitcoin approach
– Tobi Lutki 🌳🌲🕹🛒 (tobi) February 21, 2020
came in statement On the Shopify blog the following:
We spend a lot of our time thinking about how to make trading better in parts of the world where money and banking can be so much better.
As a member of the Libra Association, we will work collectively to build a payment network that facilitates access to funds and supports merchants and consumers everywhere.
As part of the mission to empower more entrepreneurs around the world we will support transparent fees and easy access to capital, and ensure the security and privacy of our merchant clients’ data.
Vodafone exits, Shopify enters:
Libra is off to a rough start, as politicians and regulators from around the world line up to raise concerns about the cryptocurrency.
Several founding members of the Libra Association have abandoned the project, including Stripe, eBay, MasterCard, and most recently Vodafone, which has left the project to focus on the mobile payment platform M-Pesa.
In September last year, Libra confirmed that it plans to launch the coin in the second half of 2020, and recently appointed a “steering committee” to oversee the project’s technical development.
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Read also:
Scammers Claim To Sell Libra ICO Tokens On Twitter
Announcing the roadmap for the “Libra” coin and revealing the main areas of the development process
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