Social media outlets have been looking for ways to climb the charts ever since they were released to the public – and that doesn’t exclude Facebook.
Instagram, Twitter, Snapchat, and all the others have constructed and employed improvements to rise above the rest. Instagram came out with the ‘stories feature,’ and Facebook tried to do it better – even though Snapchat was first in line with this function. Snapchat created their own type of ‘wallet feature,’ allowing users to send and receive money, and Facebook was on board with that, too.
But now, Facebook wants more than the rest of the social media’s; now, Facebook wants to outdo the rest.
At the beginning of the summer months, David Marcus, Mark Zuckerberg, and all other executives over at Facebook headquarters announced Libra – a cryptocurrency explicitly developed within the exec walls. You’ve probably heard word on the street that this new and upcoming product should not be trusted – but where do you stand in the ruckus?
Ready or not, Libra will hit target markets at some point in 2020.
Mark Cuban is not particularly excited for the release of the cryptocurrency, and President Donald Trump leaks out his opinions all over Twitter whenever he gets a brief second. Social media, politicians, representatives, and citizens alike are unaware of how they should actually feel.
But guess what? We don’t know what way Facebook’s Libra is going to go – we don’t know if it will rise to the top and we don’t know if will crash to the ground. All we can say, however, is that it’s going to be released, and we assume a case of trial and error will proceed.
Should we be ready for Libra?
The information that Zuckerberg and everyone else onboard has given the public is said to convince us that Libra is a safe, secure cryptocurrency platform.
According to men like Zuckerberg and Marcus, Libra is designed to become a global currency with three main key targets:
– Libra is said to be highly secure
– Libra is said to have an adaptable platform, one that allows for improvements and advancements when necessary
– Libra is said to be scalable to various banking account methods
The Libra and Calibra systems are not going to be entirely controlled by Facebook. In fact, at the end of contracting, leading executives plan to have approximately 100 companies on board participating in the decision-making process. Ultimately, this means that Facebook will only have their own votes during development; it will not control the entire platform and will not be able to make sole decisions.
It is true, though, that Facebook will allow its users to make transactions with Libra via the social media outlet.
So, we ask one more time: Are you ready for Libra?
Whether you are or not, and whether we are or not, it’s looking more and more like Libra will be here sooner than we anticipate. It’s time to prepare ourselves for a new way to banking – just in case.