The much-anticipated Facebook Libra has finally set its launch date. The digital currency, after facing plenty of back and forth about its launch, is not set to launch on January 2021. Although an official confirmation is still awaited on the wide spread media reports about the claim.
It is understood that the initial launch will not be on a full scale and the digital currency will be brought into use in limited formats.
The three people associated with the launch have confirmed about the proceedings and said that it will launch a single digital coin backed by the dollar. The Geneva-based Libra Association will issue and govern Libra.
Libra, basically, is a blockchain-based payment system that was proposed to be launched by Mark Zukerberg-owned social media giants Facebook.
The plan however faced a lot of backlash on the political front as the central banks around the world expressed concerns about the launch of such a currency and its ill effect on financial stability and the way it would challenge traditional money.