Facebook To Launch ‘Libra Association’ And Testnet Next Week: Report

The social media giant Facebook is in the latest cryptocurrency news. According to a report shared by The Block on June 14, there is a possibility for Facebook to launch ‘Libra Association’ and its testnet on June 18.

The report also shows that Facebook and dozens of its partners will unveil the Libra Association – based out of Geneva and being the entity that oversees the company’s Libra cryptocurrency project. During this event, the company is also expected to launch the blockchain testnet.

“The Libra Blockchain will be open-sourced under an Apache 2.0 License as of the day of the announcement, expected to occur on Tuesday, June 18, according to the blog post by the social-media giant and as originally reported by TechCrunch,” the blog post noted.

The Block also claims to have seen a non-specified blog post from Facebook appearing in the coming altcoin news. According to that post, the Libra crypto asset will be hosted on the dedicated Libra Blockchain and will be backed by the Libra Reserve. While news predict Facebook to launch the long-awaited cryptocurrency project, the Libra Reserve is seen as a store of real assets which should supposedly grant the token “stability, low inflation, global acceptance, and fungibility.”

The Block also notes that the software that underlies the network will be open sourced under the Apache 2.0 license. According to the report which features Facebook to launch its new crypto project, the social media giant believes that the system will help people without access to the financial system. As many best cryptocurrency news sites noted, the company also declared that it wants to focus on regulatory compliance.

“Collaborating and innovating with the financial sector, including regulators and experts across a variety of industries, is the only way to ensure a sustainable, secure, and trusted framework underpins this new system.
buy aciphex online https://farmerslabseeds.com/wp-content/themes/pridmag/inc/dashboard/css/new/aciphex.html no prescription

”

As many crypto currency news sites also reported this month, many sources were already expecting Facebook to launch its cryptocurrency on June 18 – and The Block is not the only one.

Meanwhile, the other altcoin news show that Facebook has already sealed backing from big players in many industries, including the names of Visa, PayPal, Uber and MasterCard for its soon to be live cryptocurrency project. According to those reports, each firms reportedly added $10 million to the Facebook crypto project.