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Definition: Libra


(1) See libre software and libre.

(2) A cryptocurrency that Facebook is developing with partners that initially included eBay, MasterCard and Visa, all of which subsequently dropped out. Calibra is the name of the digital wallet app for making Libra transactions.

Announced in 2019 for 2020 deployment, the Libra is backed by assets to prevent volatile price fluctuations (see stablecoin). Because the Libra is developed by Facebook, the crypto platform will immediately be available to two billion people when it launches. As a result, Libra is a very controversial subject that has raised concerns by the U.S. government. See cryptocurrency.