Facebook has released an official article about its long-awaited project

Facebook has released an official article about its long-awaited project to create a financial infrastructure based on cryptocurrency and blockchain.

Facebook will launch a wallet for its Libra cryptocurrency. Calibra, this wallet will be available to users as a separate mobile application, and will also be integrated into the Facebook Messenger and WhatsApp application.

Facebook said it expects the application to be ready for use by the first half of 2020.

For example, Fred Wilson, a partner at Union Square Ventures, one of the founding members of the Libra Association, wrote on his blog:

“So as we think about the potential drivers for mainstream crypto adoption, a simple, fully-collateralized, cryptocurrency used inside the world’s largest applications, touching hundreds of millions or billions of consumers, is perhaps the most promising one.”

A quick look at the application of the social network and the new Libra website indicates what the target market for this new cryptocurrency will be. Namely, this crypto-currency seems to be targeted to ordinary users.

Libra Facebook has also released a new video advertising the emerging cryptocurrency. This advertisement very clearly depicts countries in emerging markets, places where payments are sent to remittances to the majority and in which a significant portion of the non-bank population of the world lives.

In addition to money transfers and non-banking transactions, Facebook seems to be trying to emulate its Chinese competitor WeChat, because the transfers will be available in other applications for communication of this company.

t is unclear what regulatory measures the company has taken to support Libea, although the head of the company said he wants to work with the authorities on the development of laws governing digital assets