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Friday, June 25, 2021

Libra Cryptocurrency: Facebook buys Servicefriend for Calibra

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Kamal Saini
Kamal S. has been Journalist and Writer for Business, Hardware and Gadgets at Revyuh.com since 2018. He deals with B2b, Funding, Blockchain, Law, IT security, privacy, surveillance, digital self-defense and network policy. As part of his studies of political science, sociology and law, he researched the impact of technology on human coexistence. Email: kamal (at) revyuh (dot) com

Despite the authorities’ half-world eye on the project, Facebook and the other members of the Libra initiative continue to work with the goal of making cryptocurrency a reality within the next year. The umpteenth step of this path is now in the form of an acquisition: this is Servicefriend, an Israeli-based company bought by the Menlo Park group and destined for Calibra.

Servicefriend, an acquisition for Calibra

Calibra, for those who were not aware of it, is the subsidiary specifically created by FB and part of the Libra Association together with dozens of other members. It is the team that is working on, among other things, developing a wallet for virtual currency. The technology developed by Servicefriend will be useful as it is chatbots for applications and able to provide assistance to user-clients through artificial intelligence algorithms, thus without directly involving staff in the flesh.

At the moment it is not known how the Servicefriend system can be integrated into Calibra’s tools, but we imagine in order to provide support to those who will be interested in using Libra for their transactions and digital payments. The debut of the cryptocurrency remains set for next year, despite the doubts raised by several parties and the explicit request for clarification regarding the project received from central banks around the world.

We recall that it will be a stablecoin, whose value will be anchored to that of real assets (such as euro and dollar), therefore less subject to volatility than is the case, for example, with Bitcoin or Ethereum.

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