Next year, you can use the Calibra digital wallet.
Recently, Facebook had announced the Libra cryptocurrency.
Calibra will help users access the Libra,
a blockchain powered crypto network.
You will be able to use this wallet in Messenger,
WhatsApp and as a standalone app next year.
Basic financial services for millions of
people around the world are still out of reach.
Surprisingly, more than 50% of the
adults in the world today do not have a bank account.
What’s alarming is that around 70% of small businesses
in developing nations don’t have access to credit.
Facebook wants to address these issues with
its new digital wallet Calibra.
Calibra Digital Wallet: More Info?
You will need a government-issued ID
to sign up for a Calibra account.
Facebook says that the
transaction fees will be low-cost and transparent.
Using this digital wallet,
you will be able to send Libra to any smartphone user.
Facebook says that it will expand the features to
offer additional services such as paying bills, buying a
cup of coffee, or using public transport.
The digital wallet will offer strong security.
The social network will use advanced anti-fraud
systems to proactively monitor activity to detect
and prevent fraudulent behavior.
Calibra will not share your financial information
with Facebook or any third party without your consent.
The Facebook ad network will also be part of this exclusion.
Calibra will operate independently from Facebook.