Facebook's virtual currency on the target of Libra Trump and global regulators
Social networking site Facebook's proposed digital currency Libra is on the target of US President Donald Trump and global regulators. Also, the widespread cryptocrycity community has also doubted it.London's financial technology or influential people of Fintech industry gathered to discuss the future of virtual currencies. In a recent program in FineTech Week in London, it was asked in a program that those who are not willing to use Libra should lift their hands.
Two-thirds of the people in their room filled with nearly 100 experts and media workers expressed their disbelief on Facebook's virtual currency. It is believed that Libra is going to challenge globally dominant virtual currency bitcoin. It is likely to be launched in the first half of 2020.
To use Libra on a smartphone, the user will have to go to virtual wallet, named calibra. Trump attacked the virtual currencies and criticized him for alleged obscure nature and argued that Libra has no basis and there is no credibility.