Facebook to launch Libra cryptocurrency in 2020

Libra, a digital currency introduced in 2020, is backed by financial assets to reduce volatility. It is managed by the Libra Association, a nonprofit based in Switzerland, with founding members like Uber and PayPal. The association validates transactions and manages the currency reserve. Calibra, a digital wallet for Libra, will be available on Messenger, WhatsApp, and as a standalone app, allowing users to send Libra and make purchases. The Libra blockchain is pseudo-anonymous, keeping financial data separate from user profiles, and Calibra account information will not be used for ad targeting on Facebook platforms.

What makes Libra less volatile compared to other cryptocurrencies?

• It is not associated with any major companies.

• It is only available in Switzerland.

• It is controlled directly by Facebook.

• It is backed by a reserve of financial assets.

Which organization is responsible for managing Libra?

• Facebook

• The Libra Association

• The Swiss Government

• The European Central Bank

What is Calibra?

• A new cryptocurrency

• A digital wallet for Libra

• A blockchain technology

• A financial reserve

How can users send Libra using Calibra?

• Via postal service

• By visiting a bank

• Through email

• Using a smartphone

What is a key privacy feature of the Libra blockchain?

• It links addresses to real-world identities.

• It allows users to hold multiple addresses not linked to their identity.

• It shares financial data with advertisers.

• It requires users to disclose personal information.