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So excited to share what I've been working on for the last year! It's been the most challenging, interesting, and inspiring thing I've ever been a part of. Today is not a launch, but an announcement, and an invitation for the community to participate.
The core problem we're trying to address is the lack of progress in financial services for the people who need it most. The internet has changed the way we communicate and access information. Why hasn't it done the same for money?
30 years after the invention of the web, billions remain unbanked, the fee to send money home to family averages 7%, payday loans charge interest rates up to 400%—the list goes on.
Now is the time to create a new kind of digital currency built on the foundation of blockchain technology. The mission for Libra is a simple global currency and financial infrastructure that empowers billions of people.
Libra is made up of three parts that will work together to create a more inclusive financial system:
1. It is built on a secure, scalable, and reliable blockchain;
2. It is backed by a reserve of assets designed to give it intrinsic, stable value;
3. It is governed by the independent Libra Association tasked with evolving the ecosystem.
2. It is backed by a reserve of assets designed to give it intrinsic, stable value;
3. It is governed by the independent Libra Association tasked with evolving the ecosystem.
And we're humbled to be joined by 27 other amazing organizations—global businesses, NGOs, and academic institutions—who will become founding members of the Libra Association, and play an equal role in governing Libra. 
We're also announcing Calibra, a digital wallet for Libra that will be built into WhatsApp, Messenger, and available as a standalone app for iOS and Android. With Calibra, we want to make sending money as simple as sending a photo.
Calibra is built with privacy in mind. In particular, your financial data within Calibra will stay separate from your social data in Facebook—and not be used for ads.
Calibra will be one of many digital wallets available for Libra—all of them interoperable because they're built on the Libra blockchain, the same way we can use different browsers and all browse the same web.
We're hoping to go live in H1 2020. Together, we can increase access to the financial ecosystem, decrease the cost of financial services, and drive financial inclusion around the world.
You can read much more at libra.org/en-US/white-pa…. I'm eager to hear your thoughts and feedback on both Libra and Calibra!
