On Thursday, the Governor of Bank of England, Mark Carney will address the upcoming cryptocurrency that is about to be introduced by Facebook into the market in 2020. The currency will definitely help in reducing the costs and financial transactions shall be increased; but, definitely, some of the modifications are required.
Not only this, but Mark Carney also will announce that the non-banks of England will hereafter be able to hold the bank accounts. According to Mark Carney, the idea about cryptocurrency disclosed by Mark Zuckerberg is tremendously positive and will definitely please his partners too.
Unlike the bubbling rumors of personal data leaking from social media websites, the situation for Libra is entirely different. According to Mr. Carney, definitely the idea unveiled by the CEO of Facebook is something that suggests having an open mind; he has definitely taken advance steps to secure the money laundering business.
Though Libra is similar to cryptocurrency, the value of the coin is very different from that of conventional crypto-currencies. The currency is intended to be transferred through a social media website, but its value will be measured according to the real-life currencies.