Facebook's Libra cryptocurrency whitepaper dropped this week, sending shockwaves through the Bitcoin and altcoin community.
Is Libra the thing that pulls blockchain kicking and screaming into the mainstream, for the benefit of one and all? Or is it the final nail in the coffin of a cryptocurrency experiment just a decade old?
Here are 10 key takeaways from the newly released Libra whitepaper.
1. Founding Members Are Finance and Tech Giants
While plans for Libra involve the eventual setup of a decentralized governance model, it’s starting with several “founding members." Those include Mastercard, Visa, Facebook, PayPal, eBay, Bitcoin exchange giant Coinbase, and more.
By 2020, the team hopes to have set up the Libra Association - a community-driven entity which oversees the blockchain’s development.