What Libra Will Do For Crypto

Shout-out to @jrcornel and his post about the Libra launch date.

Check out the link and give him an upvote.

Libra was in the back of my head and I was wondering how it was doing and if we were still on track for a launch. It looks like it is still on track and it might be out as early as January of 2021. This is a big deal as you can imagine.

Crypto For The Masses

The goal is to make crypto easy enough for people who are not tech savvy to use. Making it user-friendly is a one way to do it but another bigger way is to include it and app that anyone is already using and then make it easy to use in the app. Facebook has a huge user-base and this will be an instant way to bring crypto to a large crowd overnight. This will also come with a lot of people promoting crypto in Facebook and this could lead to a social media push for the industry that could rival the last bull run of 2017.

The Dapp Gateway?

This is what I'm hoping for. Facebook does not only have social media but also apps that you can play on Facebook. This means, in theory, we could see dapps on facebook that use Libra. If people get use to using dapps and realise that the coins and items in the dapps they use have actual worth this could lead to a lot of interest in dapps.

Crypto Accepted In More Places

Libra can act as a payment processor for countless businesses that post their work on Facebook. This means a lot of places will take crypto as a payment and paying for your stuff with crypto will become mainstream.

Trade Bitcoin For Libra

On top of Libra being used on Facebook this will also lead to a connection for bitcoin. I'm sure there will be ways to swap one coin for the other and this will bridge the gap for a lot of users. There will also be people who get Libra and will want to know how to exchange it for fiat and this could lead to more views for exchanges and more people learning how to use cyptocurrency.

Libra will lead to a lot of attention to crypto in a year that is already looking really strong for crypto. I do not know if January will be the day it gets launch as it is just a rumour right bow but Paypal has opened the doors to signal it is clear for big companies to get into crypto.

This is getting interesting. I'll be keeping an eye on the news to see what happens.

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