Matooke Republic
Tuesday, July 15, 2025
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
Matooke Republic
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
No Result
View All Result
Matooke Republic
No Result
View All Result

Facebook to have own new cryptocurrency by end of next year

Matooke Republic by Matooke Republic
June 20, 2019
in Business
Reading Time: 2 mins read
Share on FacebookShare on Twitter

Facebook’s CEO, Mark Zuckerberg has unveiled plans to create a new digital currency called Libra.

Together with 27 other 27 organisations, Libra which will be powered by blockchain technology and protected by cryptology is on course to be launched next year.

“There are over a billion people with a smartphone, but no bank account. We want to enable them to make transactions online,” Facebook said in a statement.

RELATED POSTS

Jacob Kiplimo shines at Samsung Galaxy Unpacked as new Galaxy Watch 8 launches

Pearl Tower One: Meera Investments unveils Kampala’s landmark Grade-A office building

Libra will be traded through Calibra – a digital wallet that’s under development as well. Calibra will be incorporated into Facebook’s co-platforms — Messenger and WhatsApp, but users will also be able to download it as a stand-alone App.

Once launched, users will be able to send Libra to anyone with a smartphone but Facebook said that over time, users will be able to pay for other bills like coffee, Uber ride, or a rolex; cashless!

Wondering how you’ll get Libra? Well, Facebook is partnering with payment service providers like MasterCard, Visa, PayPal, among others to enable one to buy the currency through the platforms.

As far as security goes, Zuckerberg assured users that the Calibra platform will have their details and financial transactions kept separate from Facebook and other third parties. He also added that in case the system is compromised and money lost, the company would refund their money.

Other partners in the Libra Association are eBay, Booking, Mercy Corps, and Coinbase. By the time of launching, Facebook says it will have 100 partners on board.

Related

Tags: facebookLibramark zuckerberg
Share2Tweet2Send
Matooke Republic

Matooke Republic

Freshly peeled info from area code 256

Related Posts

UCC Executive Director Nyombi Thembo.

UCC to import equipment and technology to monitor social media platforms

by Matooke Republic
3 months ago

...

Australia bans social media for children under 16

by Matooke Republic
8 months ago

...

Lawyer loses Shs422 million fraud case against ex-lover met on Facebook; Court says he failed to separate romance from business

by Matooke Republic
9 months ago

...

How Bulenga man has been befriending women on social media before robbing them

by Matooke Republic
2 years ago

...

Twitter rival Threads surpasses 100 million users in record time

by Matooke Republic
2 years ago

...

Next Post

No buying OTT, data for MPs as Kadaga orders cancellation MTN contract

TRAVEL: Five places you must visit in Uganda this weekend

RECOMMENDED

Taxi driver in TikTok stunt involving passenger on vehicle roof enjoying drinks arrested; says he was paid Shs20k for the gig

July 15, 2025
Don Chris.

Number of victims scammed by Don Chris rises to 350, amount of money lost now stands at Shs2 billion

July 15, 2025
  • 643 Followers
  • 23.9k Followers

MOST VIEWED

  • Here is how to use NIRA’s new online portal to register or renew your national ID

    3967 shares
    Share 1587 Tweet 992
  • DNA test confirms late MP Ssegirinya was father to only 4 of 9 children presented after his death

    102 shares
    Share 41 Tweet 26
  • Kampala University proprietor Prof Kateregga’s wife rejects DNA results indicating one of three children is not his, demands fresh test in the United States

    96 shares
    Share 38 Tweet 24
  • Properties owned by late billionaire Aponye at risk of auction over Shs15 billion loan arrears

    79 shares
    Share 32 Tweet 20
  • Pastor Bugingo’s daughter Doreen Gift awarded scholarship to Arizona State University in the US

    62 shares
    Share 25 Tweet 16
Matooke Republic

Uganda's only free Newspaper. Out every Thursday. Freshly peeled info. kiwatule, Kampala, Uganda.

  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos

© Matooke Republic 2024

© Matooke Republic 2024

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.