Throughout history, humans were trying different involved options in business transactions. Those options were needed for trust and reliability. To ensure business transactions, we created banking systems, legal agreements (contracts), legislature systems, etc.
A decade ago, we saw a new system that changed the landscape of business transactions. New blockchain systems changed everything – now, business transactions do not involve third parties. Banks, legislature system, and agreements do not have a place in operations.
BTC – first pillar to the different landscape of business transactions
Bitcoin was the primary source that people can trust. Everything started one decade ago, and now Bitcoin is worth $8 000. Keep in mind that price fluctuates from time to time.
Bitcoin’s price reached its historic highest in December 2017. The cost of one BTC was $19 000. Random people started investing after enormous blow-up, but everything changed in early 2018 when the price dropped hard.
As of now, Bitcoin stands still at $8000. There are still questions and doubts regarding BTC. Those doubts are mostly related to the not-regulative nature of cryptocurrency.
Facebook Libra could be more significant than BTC
A few months ago, Mark Zuckerberg announced a new coin. Facebook will issue a new currency, and Mark hopes that it can change the landscape of business transactions. Facebook Libra will have trust from people as it’s released from a trillion-dollar company.
Facebook Libra will have difficulties – PayPal is out of the game
As you know, on June 2019, Libra association formed an association of 28 big organizations. In that way, Mark thought that it would be easy to adapt Libra into different systems.
Stripe, Mastercard, Visa, Uber, PayPal, eBay, Spotify, Facebook – the shortlist of companies involved in the association. Unfortunately, we saw the first company that dropped Libra coin way before it’s issued.
PayPal decided to leave the association, but we don’t know the real reason. Paypal published a statement about breaching an agreement with the association but wished luck to Facebook Libra.
At the same time, Mark talked about PayPal. Zuckerberg said that the Libra team knew about difficulties, and they are ready for challenges.
Still, in a statement, PayPal mentioned that the team is ready to collaborate with Libra again after relevant negotiations. Libra should start a movement as Bitcoin had with various types of companies. When different industry companies such as best casino online accept Libra, it could change the game forever.
Leaked audio of Mark Zuckerberg
The Facebook founder had a meeting with the Facebook team members. The meeting was not open to others, but we can still understand what happened at the session. In leaked audio, Mark is talking about the Libra and hopes for the future. Zuckerberg said that the financial system and transactions are very different spaces, and the team has to be ready. That’s why Libra is delayed until 2020.
Mark mentioned that Libra will have trust from all legislature and financial systems. CEO wants to have top crypto in the world; that’s why it postponed till 2020.