Libra is a new global cryptocurrency, built on an open-source blockchain called the Libra Blockchain featuring its own proof-of-stake protocol. According to its whitepaper 1, Libra is backed by a not-for-profit organization called the Libra Association, which will serve two main functions: Governing and overseeing the Libra blockchain. Managing the reserve that keeps the value of Libra backed ... China's Ministry of Commerce has announced the pilot run of the country's central bank-backed digital currency in major cities, including Beijing, Hong Kong, and Macau. It will also be tested ... Travala.com, the leading blockchain-based accommodation booking platform announced today its strategic merger with the leading cryptocurrency-friendly flight booking portal TravelbyBit, backed by Binance, the global blockchain company behind the world’s largest cryptocurrency exchange by trading volume and users. Central Bank Digital Currencies (CBDCs) are the hottest trend in the global banking sector with multiple projects underway and one CBDC already live in the Bahamas. Talking on this matter, Binance CEO Changpeng Zhao noted that he believes the rise of CBDCs could be a threat to Bitcoin if a more advanced version of it was developed. Crypto exchange Binance is launching a dollar-backed stablecoin in the U.S. Moreover, the new Binance USD (BUSD) has received the blessing of the New York Department of Financial Services (NYDFS). A Binance-backed crypto payments app, designed to provide feeless transactions across Africa, launches today with support for Nigeria's naira.
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