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Libra Association Director Says Facebook’s Cryptocurrency Could Help the UN Eliminate Poverty

Sep 27, 2019
byOmar Abbas

At the United Nations blockchain conference hosted in Geneva on Friday, Managing Director of Libra Association Bertrand Perez said he strongly believes that Facebook’s cryptocurrency will be a godsend to the UN.

According to Perez, Libra – the cryptocurrency being developed by Facebook – could help the U.N. achieve a number of its sustainable development goals including eliminating poverty. The conference included speakers from the International Monetary Fund (IMF) and the Swiss National Bank.

Libra will be backed by a reserve of the world’s major fiat currencies including the US Dollar and Swiss Francs and is slated to launch in mid-to-late 2020.

“We are not in the area of implementing any monetary policy with the [Libra] Reserve,” said Perez at the blockchain conference.

At the 73rd United Nations General Assembly (UNGA) convened in New York earlier this week, Forbes reported that blockchain has quickly become a technology that could help the UN achieve its sustainable development goals (SDGs).

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