Facebook Libra is a positive signal for Cryptomones

Facebook Libra was the main subject of discussion of the entire crypto industry. Many experts believe the Libra could act as an access point for Bitcoin for its 2.4 billion potential users.

Exposing to a relatively stable digital asset, such as Libra, could make people interested in other decentralized cryptomonas.

Facebook Libra is a positive signal for Cryptomones

Facebook’s newly released crypto project, Libra, has been at the forefront of media attention over the past two weeks. Project details that have been revealed have prompted many to say that it is a major asset for cryptomonas in general.

Many have been quick to point out that the Libra project has major centralization problems and will be used to collect confidential user data. However, it seems that the highly anticipated digital asset is already producing waves across the industry.

Garry Tan, a partner in Initialized Capital Company, said the Libra launch was a “big day” for the cripto industry. He pointed out that Facebook has 2.4 billion users, while WhatsApp, the Facebook messenger giant, has over 1.5 billion users. Recent studies estimate that the number of cryptomonas users worldwide is about 35 million.

This means that a large percentage of those users could become exposed to other cryptomonades via the Libra. The number of cryptomonas users worldwide can thus grow 70 times.

Tan pointed out that although the Libra whitepaper is not perfect, the token has the potential to represent a major opportunity.

“Most estimates today place crypto users around the world to less than 35 million people in total. There are 2.4 billion Facebook users and 1.5 billion users of WhatsApp.
In 2020, these billions of people will have a freeboard for the Libra … and from there to any other crypto pair.
This is clearly a big day. “,

Tan said on Twitter.

The Libra could become the largest fiberglass ramp in the world

Facebook’s ability to reach billions of users across the globe is an advantage that no other crypto company has. Although there are many stable cryptomonas, whose protocols are more decentralized and confidential, none have a recognizable name.

Economist Alex Kruger said that Libra is a threat to stable cryptomonas and smart contracts, but not to Bitcoin and other cryptomonas.

He explained that Bitcoin’s resistance to censorship and the ability to store value puts him in a completely different category from Libra. Kruger pointed out that the Libra has the potential to become the dominant means of exchange on the cripto market.

Because Libra’s code will be open-source, many other wallets are expected to appear on the network. Garry Tan also noted that the majority of major cripto exchanges will want to list the Facebook Libra currency. Virtually the Facebook currency can become the most important ramp for the crypto market.

Kruger reiterated this feeling, saying Libra is, in general, a positive development that will benefit many.

“Libra should have a very positive effect on the crypt ecosystem because it accelerates global acceptance of cryptomonas and can act as the largest on-ramp platform thanks to the 2.4 billion Facebook users.”

The Libra should be extremely positive for the crypto ecosystem, as it accelerates crypto’s worldwide acceptance and acts as the largest fiat on-ramp thanks to Facebook’s 2.4 billion users.

Libra should also be a positive for Facebook’s stock, and many people around the world.

– Alex Krüger (@krugermacro) June 18, 2019