AFP, SAN FRANCISCOFacebook Inc is leaping into the world of cryptocurrency with its own digital money, designed to let people save, send or spend money as easily as firing off text messages. Facebook and about two dozen partners released a prototype of Libra as an open source code to be used by developers interested in weaving it into apps, services or businesses ahead of a rollout as global digital money next year. Facebook will be just one voice among many in the association, but is separately building a digital wallet called Calibra. The Libra Association will be the only entity able to “mint or burn” the digital currency, maintaining supply in tune with demand and assets in reserve, Barel said. Libra will be a regulated currency, subject to local laws in markets regarding fraud, guarding against money laundering and more, Weil said.

Source: Taipei Times June 18, 2019 15:56 UTC