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Jun 19, 2019

Libra: A simple global currency and financial infrastructure that empowers billions of people.

Libra is for the world: A stable global cryptocurrency built on a secure network.




What is Libra?
Libra is a global, digitally native, reserve-backed cryptocurrency built on the foundation of blockchain technology. People will be able to send, receive, spend, and secure their money, enabling a more inclusive global financial system.

What is it's unit currency?
The unit of currency is called Libra. The aim is to make Libra as widely accepted and as easy to use as possible to create a currency that people can use with confidence and convenience in their everyday lives.

Is Libra backed by an assets?
Unlike the majority of cryptocurrencies, Libra is fully backed by a reserve of real assets. A basket of currencies and assets will be held in the Libra Reserve for every Libra that is created, building trust in its intrinsic value.

How Libra Blockchain operates?
The Libra Blockchain is operated by a network of validator nodes. The evolution of the blockchain will be overseen by the Founding Members of the Libra Association, and each member will be responsible for running a validator node. As the network grows and becomes more self-sustaining, the Libra Association will work to gradually transition to a permissionless mode of operation.

What is Libra Association?
The Libra Association is an independent, not-for-profit membership organization, headquartered in Geneva, Switzerland. The Libra Association is made up of a group of diverse organizations from around the world. The Founding Members of the association each run one of the validator nodes that form the network that operates the Libra Blockchain. One of the association's directives will be to work with the community to research and implement the transition to a permissionless network over time.

Who are the Founding Members of Libra Association?
This initial group of organizations will work together to finalize the Libra Association's charter and will become the association's Founding Members upon its completion.


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