Last week, Facebook took part in a Senate hearing to discuss the implications of its cryptocurrency ventures-- and, as a fintech company that prides itself on providing cutting edge investment solutions for our customers, we felt it was our duty to attend and assess these implications.
With a unique concept that will attempt to blend traditional blockchain technologies with more traditional regulatory systems, Facebook’s Libra coin could usher in a new era of commerce and financial transactions. While many Senate gatekeepers were skeptical about what this could mean for the widely used transactional systems we have today, our BitLeague team was and is incredibly excited to support such a venture-- particularly as it pertains to the idea of open access to finance and trade worldwide.
BitLeague has always supported accessibility and equality in all areas of life-- and fintech is no exception. Facebook’s Libra coin may be a far cry from both traditional banking and traditional cryptocurrency models, but the mission behind the Libra coin concept-- economic empowerment for all-- is one that we here at BitLeague will always be able to get behind.
As mentioned in the Libra white paper, though many, many areas of life have been drastically improved by technology over the years, the financial industry is one that’s remained relatively stagnant-- meaning billions still aren’t able to access or even adequately use its functions. As with bitcoin, the Libra coin attempts to remedy this disparity by offering a seamless platform that allows users to access and share funds instantly and outside of geographic confines. Here at BitLeague, our no-fee policy complements the Libra model perfectly-- meaning those who use the Libra platform will have no problem integrating its functionality with our easy to use features.
Additionally, aside from the opportunity it will provide for those that don’t currently have access to traditional financial platforms, the Libra coin looks to offer unique options to every user-- like the ability to complete and process transactions instantaneously, with the click of a button. Here at BitLeague, we’re particularly excited to support a Libra interest account that will give our customers the ability to earn more on their holdings-- which, in turn, means more Libra currency for them to trade, buy, and sell in.
The Facebook cryptocurrency hearing was the first of what we’re sure will be many as Libra coin development ramps up. Our BitLeague team will continue to keep you updated as we push to help provide our customers with the best and most innovative in mobile crypto banking!