With the fact that they barely blinked then slapped with a $5M dollar fine recently with the Cambridge Analytica scandal, it’s a reminder that Facebook is as deep-pocketed as one can be. Not surprising that the world’s social media mega giant is so wealthy, and as such we can also assume that they have the bucks needed to get into whatever venture they choose to. The fact that they’re doing so in cryptocurrency is one, however, where they sheer magnitude of what this could mean within the world of online e-commerce. Here at 4GoodHosting, being a quality Canadian web hosting provider put us in a more natural position than most to be attuned to these kinds of developments and what they can mean for the ‘general public’ of the 21st century digital world. We’ve talked about Blockchain here in our blog before, and it’s on this game-changing piece of fintech (financial technology) that this - and all types of cryptocurrency - are based on. This kind of industry disruption is one of the more defining aspects of the digital world these days, and the ‘disruption’ that could come from this is really one to talk about. No doubt the banking world won’t be particularly enthusiastic about it. So what’s this all about? New Way to Pay Facebook’s digital currency-to be will be called Libra, and the ‘crypto wallet’ you’ll use to carry it is called Calibra. What you’ll do is download the Calibra digital wallet application, purchase the Libra digital currency through a financial network, and then exchange payments with peer-to-peer digital money transfers through Calibra standing alone as an app. It’s reported that users will also be able to do the same thing through Facebook's subsidiaries WhatsApp and Messenger. The Libra platform is expected to launch sometime next year, in 2020, and it’s being promoted as a cryptocurrency app that will let Facebook users send, add or withdraw money as weill as allowing someone to fill their wallet, cash out or split a restaurant tab all using Messenger. Further, you may eventually be able to pay bills, buy a cup of coffee with the scan of a code, or...
