Facebook has recently introduced a new digital wallet for a new digital currency. The world is going digital and Facebook wants to offer more convenience to the consumers by launching Calibra. The new subsidiary of the social giant wants more people to take advantage of cryptocurrency. We’re not dealing with Bitcoin here but Libra which is a new global currency. The Libra network is relatively a new blockchain technology. It joins a number of cryptocurrencies already available. Facebook wants to enter the digital payment category and hopefully, with this Calibra, it will be able to serve more consumers that are on Facebook.
Calibra will roll out on Messenger and WhatsApp. A standalone Calibra app will also be available next year. Facebook is preparing for the 2020 release of the service that is not just for sending money but also for spending and saving.
This Calibra should be an easy solution for those people who are afraid or have no access to basic financial services. We don’t think it will replace actual banking but just be a proper alternative.
Calibra is a new digital wallet for the Libra currency. Sending is as easy as sending a text message. Facebook has big plans for it. In the future, it will allow paying bills, purchases, and even transportation. No need to carry a metro pass, cash, or your credit card with you when you go out because your smartphone will be enough.
The age of digital wallet is in its early stages. We’re crossing our fingers more companies will consider going digital or “going crypto”.
Calibra will be safe, secure, and private. It will use the same anti-fraud and verifications processes most credit card companies and banks use. Fraudulent behaviors will be checked and prevented as a team of experts will be ready to offer live support.
When it comes to privacy, Calibra assures it will not share your financial data or information with any third party. Even Facebook won’t know about your Calibra data without any consent. Sign up HERE for regular updates about Calibra.