Facebook's New Cryptocurrency Libra plans to Launch in 2021

In today's #Shorts , you'll learn about a Facebook-backed #cryptocurrency formally known as #Libra, but as of December 1, is going by #Diem . The cryptocurrency could debut as a single coin backed by the dollar, with an initial launch as early as January 2021. Libra was meant to be a single coin pegged to multiple currencies for stability that could be traded in place of them; it was later changed to also offer multiple coins that would each be backed by a different currency. The cryptocurrency was meant to make digitally transferring money quicker and easier than it is today, and companies like #Facebook would be able to offer financial services around it. Facebook announced plans for a digital wallet, now known as Novi, that could offer these services, with the company positioning #Novi as its means for turning its investment in the project into a potential moneymaker. What do you think of this idea? Would you use Diem and do you have any concerns with this? ____________________________________________ ► Visit https://joinentre.com to be part of the Entre community! ► SUBSCRIBE to learn more about entrepreneurship! /channel/UC8nplMh9HgzdOsDqq4xkdJQ ► Follow Entre on social media: @joinentre

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