Facebook to launch Libra Blockchain testnet next week, backed by Libra Reserve

Facebook’s much-anticipated cryptocurrency project, more than a year in the making, will be unveiled early next week. Facebook and the dozens of partners who The Block identified earlier today will introduce the Libra Association, based in Geneva, which will oversee Libra, “a simple global currency and financial infrastructure” meant to reach billions of people.

[related id="1"] According to an introductory blog post viewed by The Block, Libra will be built on the Libra Blockchain a “secure, stable, and reliable blockchain” and backed by Libra Reserve, “a reserve of real assets” that will provide the cryptocurrency with “stability, low inflation, global acceptance, and fungibility.”

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