Blockchain Development Group: Libra

This evening I attended the Blockchain Development Group  hosted by Farm  Credit Services of America.

Started with networking and Pizza.

libra

Libra

Tonight’s talk was on Libra by Kyle tut of pinata.cloud.

Validators

Libra validator nodes are responsible for validating transactions. Experimenting with node validators.

Developed as a smart contract language. Learned from solidity. Integration will be done through modules. The 2/3 majority will need to approve.The main goal of Libra is to be stable. They have not solved problems with Ethereum.

Calibra is own by Facebook. It is a digital wallet. It is also a partner.

Re-seller takes money and puts into the Reserve. Then money in exchange will be put in Libra. Not much different then a global ACH network. The goal is about controlling where the amount is stored.

There will be regulatory considerations. If successful won’t have to deal with regulations as other financial transactions are. Libra is a digital currency not a crypto concurrency.

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