The 10 most important things you need to know about Facebook’s new cryptocurrency, Libra

After months of anticipation, Facebook has just unveiled its cryptocurrency, dubbed Libra. There is a lot of information to unpack, and The Block has distilled the announcement into most important points to save our readers time.

Through a separate entity called the Libra Association, Facebook has announced the launch of “low-volatility” cryptocurrency Libra. The cryptocurrency is powered by the Association's native smart contract blockchain platform called Libra Blockchain that’s designed to be “secure, scalable, and reliable.” The Association said it is mainly working on addressing two problems with the cryptocurrency; banking the unbanked and facilitating low-fee money transfers globally.

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