Facebook is at it again! Although controversial and not as warmly received by all, looking at the stakeholders Facebook rallied together, it seems that Facebook Libra is here to stay and due to be launched in 2020. Visa, Uber and Andreessen Horowitz all have a stake in Libra and have invested heavily into the project already.
The logical next step would be to start building a business network that will accept the currency as a payment option. One can expect there to be some serious discounts and rewards to follow this venture as an acquisition strategy.
Facebook will promote an open-source Libra Blockchain and developer platform using it’s own programming language called Move. One can expect vast amount of integrations especially from e-commerce payment gateways to ensure they keep up with the disruption trend.
There will be some uphill battles for Facebook regarding the privacy issues it has faced before, and there are bound to be some countries that won’t allow Libra to enter their borders, but generally I believe companies, and more so e-commerce stores, should yet again brace themselves for the next big disruption.
Cassie van Wyk is the main author of this blog and has years of experience in the field of channel marketing and e-commerce respectively. He has a passion for writing and sharing knowledge, and does a lot of research in order to bring factual information to all the blog visitors. Feel free to reach out at any time!