Authors: Jeff Horwitz and Parmy Olson
Move is the most ambitious effort yet to take blockchain payments mainstream.
Facebook Inc. unveiled plans to launch a cryptocurrency in a move that could diversify its business from advertising while expanding into financial services long dominated by Wall Street.
The cryptocurrency, called Libra, will be a secure blockchain-based payment system backed by hard assets and designed for ordinary users, making it among the boldest efforts yet to bring digital currencies into the mainstream.
Facebook next year plans to roll out its cryptocurrency.
How Libra works...
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