Facebook unveils their Cryptocurrency: Libra

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(CNN) — Facebook announced its much anticipated digital currency on Tuesday.

It’s called Libra and Facebook created an independent, non-profit organization called the Libra Association to run it.

Facebook CEO Mark Zuckerberg says he wants to make sending money as easy as sending a digital photo.

Users will be able to send Libra to each other using a button on messenger or Whats-App.

That makes it much easier to transfer, but Libra still faces the same challenge as other cryptocurrencies… converting it into cash.

Libra can only be used at places that accept it or it must be traded for traditional money at a bank or other institution willing to do it.

Facebook’s cryptocurrency is in testing and is expected to launch in 2020. 
 

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