Big News:- Facebook has planned to launch a new cryptocurrency called Libra

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Facebook is planning to launch cryptocurrence next year -  supported by MasterCard, Visa and PayPal - which will allow people to transfer money with low cost. 

Money is known as Libra, which Facebook says is "no special role" in governing and managing the reserve equally with a group of large companies.

It includes 28 firms, including Spotify and Uber, each to invest a minimum of 8 million pounds to become a founding member of the Libel Association. 

Facebook will conduct its own digital wallet for people,which is known as Calibra Wallet, which is available as Whatsapp, Facebook Messenger and standalone app, will spend in Libra.

Social network said that users will not be able to pay money to each other at the beginning. After all, it intends to open the Calibra Wallet to additional services, so that people can pay bills, scan a code or buy goods by accessing public transport.

Facebook wrote in a statement:- Calibra's account information will not be shared with Facebook "To keep people safe, to follow the law. , And to provide basic functionality to those using Calibra.

The social network is expecting that their cryptocurrence will be less volatile than other digital currencies. Bitcoin is the largest cryptocarse ever, which has experienced extreme volatility in the last two years, with prices ranging from £ 2000 to about 15,000 pounds for single bitcoin.