Foreign media: Libra coins have been used within FB Other founding members are still watching

Beijing time on the afternoon of December 18, according tomedia reports, Libra, also known as Libra, is A Facebook-led launch of a bold ahead of the digital currency program. The ambitious vision of the program, the opposition of its critics and the uncertainty surrounding the project’s future make Libra an important event in the fintech world of the year. Libra Coin was also selected as a foreign magazine to shape the next decade’s 25 “great ideas.”

Media: Libra coins have been used within FB Other founding members are still watching

Over the past few months, journalists have gathered a wealth of material to help people gain insight into Libra coins ahead of the Christmas holidays, including other important aspects in addition to their functions.

Here are some of the highlights:

The Libra Association is clearly still funded by Facebook. The Swiss non-profit, whose founding members include 21 companies, including Uber, Spotify and Coinbase, has the responsibility to regulate Libra. According to people familiar with the matter, the group has not yet started charging a minimum membership fee of $10 million and initial investment funds, despite the fact that the members have “committed” to paying the membership fee. Presumably, given the resistance of regulators, the founding members are still waiting to see if the project is really promising to start. (Facebook declined to comment on the news.) )

Facebook employees are already using Libra coins, and if a member of the Calibra team is late for the meeting, they will be penalized for confiscating a certain amount of virtual currency. These Libra tokens exist on a “test net” and are not supported by savings currency, so they can basically be counted as “monopolistic” currencies. “I’m often late, so I pay a lot of fines,” said Kevin Weil, Calibra’s vice president of products.

An important technique associated with Libra coins is a new programming language called Move. The invention of this programming language was designed to securely move digital assets bound to blockchain, the underlying database technology of cryptocurrencies. Sam Blackshear, a Facebook software engineer and one of the designers of the programming language, has nothing to do with Facebook’s old slogan, “Fast Action Breaks The Rule”; The name comes from a programming concept that only insiders understand – “mobile semantics.” The move team’s informal motto is more cautious: “The ‘mobile’ language doesn’t break the rules.” “

If Calibra allows third-party developers to design their own digital currency for wallets, the impact of the business will be enormous. “We think this new financial infrastructure is comparable to apple’s iOS system that Apple introduced to developers a decade ago,” explains Zach Schwartzman, an analyst at RBC Capital Markets. In other words, Calibra’s importance to Facebook is the same as the iPhone’s to Apple’. (Tur)

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