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

Sep 27, 2019
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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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