What is Libra Association? Libra Association Review, Features

The Libra Association, the governing body behind Facebook’s eponymous stablecoin launched in late 2019, has formed a new committee to guide the network’s technical development.

About the Libra Association

According to a Jan. 16 announcement, the Libra Association has voted to form a five-member Technical Steering Committee comprised of leading experts from multiple companies in the fintech and blockchain industries.

Establishment Purpose

Building a trusted, innovative financial network that empowers people and businesses around the world.

Providing secure and affordable financial services to people around the world. So people everywhere can live better lives.

Advantages

• The Diem payment system is for everyone: moving money around the world should be as easy and cheap as sending a message. No matter where you live, what you do, or how much money you make.
• Mobile: The Diem payment system can be accessed by anyone with an entry-level smartphone and a data connection.
• Stable: Diem Coins are backed by a reserve of assets consisting of cash or cash equivalents and very short-term government securities.
• Fast: No matter where you send or spend money, Diem transactions are fast and easy.
• For the World: The Diem payment system will facilitate a more accessible, better-connected global financial system.
• Scalable: The open source Diem protocol will foster a vibrant community of developers who build products and services that help people access and use the Diem payment system.
• Secure: The Diem network is built on blockchain technology and designed with security in mind.