Facebook's new adventure is blockchain through its Libra cryptocurrency. The United States government has been wondering for months if it is a good idea for the social network to have its own currency, which is why Facebook CEO Mark Zuckerberg went to the United States Congress today to appear on the matter.
You may also be interested: How Libra works, the new cryptocurrency of Facebook.
At this time, Zuckerberg is facing members of the Cmara Financial Services Committee in an attempt to calm their concerns about the project.
Libra is one is a digital wallet that is available on Messenger, WhatsApp and as a separate Facebook application. The idea is that Libra allows anyone with a smart phone to share the currency at low cost or no cost.
According to the digital company, for many people around the world, even basic financial services are still out of reach: almost half of the adults in the world do not have an active bank account and those figures are worse in developing countries and worse for women.
The cost of this exclusion is high, according to a report published by Facebook: approximately 70% of small businesses in developing countries lack access to credit and migrants lose $ 25 billion each year through remittance fees .
You can see the appearance below.
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