Facebook's crypto project launches wallet website called Calibra

Facebook's Calibra website has just gone live and we cover the ins-and-outs of what it says about the upcoming cryptocurrency being offered by Facebook
Facebook's crypto project launches wallet website called Calibra
Facebook have officially launched their cryptocurrency project website, called calibra.com. The website describes the project as "A connected wallet for a connected world" describing the cryptocurrency as "a new cryptocurrency that will make money work better for all of us." 
It appears Calibra will be the wallet used for Facebook's cryptocurrency Libra. The website makes use-case examples of sending and receiving Libra through Facebook, Whatsapp and the Calibra wallet. 
The website also advertises a payment gateway for customers to make use of customer payments across the globe, saying "People will be able to use Calibra at businesses around the world. Grow your customer base by accepting payments from more customers, from those next door to those thousands of miles away."
The website has since gone back offline, with the Libra cryptocurrency website not live as of yet, all eyes will be on the upcoming launch of what is said to be one of the biggest cryptocurrency launches this year.

Facebook just released the Calibra website. More announcements to come soon: https://calibra.com

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Some things to know about Facebook’s Calibra:

1. Calibra is a *custodial* digital wallet. Users won’t manage keys. It is fully owned by Facebook, and will probably be the main way people use Libra, the token.

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3. You will have to go through full KYC to use it. Facebook says it’s for your own good 🤷‍♂️

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4. It isn’t free. Transactions will cost some money. Not sure who’s the entity charging for them.

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See Udi Wertheimer's other Tweets

5. It’s not global (yet?).

While Facebook acknowledges it wants it to work everywhere, wording suggests that it won’t, at least not yet. Probably due to various regulatory reasons?

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6. Facebook tells users that “the value of a cryptocurrency depends on the type of blockchain it is built on”, which imo is a very silly statement to make. I expect that the marketing department is going to have a hard time explaining the “crypto” part to users

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Facebook's crypto project launches wallet website called Calibra Facebook's crypto project launches wallet website called Calibra Reviewed by Chaudhry on June 19, 2019 Rating: 5
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