The trend of blockchain-based ecosystems is on a rise. An ecosystem is nothing but a group of related products or services. A blockchain ecosystem consists of services/products based on blockchain technology and offered for a particular purpose. The Libra Ecosystem, for instance, is a blockchain-based ecosystem for the e-commerce industry. However, Libra isn’t like any other ecosystem, it’s a fully-featured suite of advanced business & e-commerce solutions with global accessibility.
Whether you are planning to invest in Libra or are just curious about the ecosystem, here we explain how Libra is different from the various other blockchain ecosystems out there.
The Libra Blockchain E-commerce
Libra is creating a first-of-its-kind, decentralized (blockchain-based) ecosystem providing tools, products & services for the benefit of the e-commerce industry as a whole. The primary role of the Libra ecosystem would be to create & offer products to help solve the core problems of the e-commerce industry, which include lack of financial services, a huge competition, the need for middlemen, lack of security, lack of transparency in the supply chain, fraudulent actors, complex process, tedious investment cycle, and more.
Though Libra is primarily created to help solve the e-commerce industry challenges, it effectively benefits all kinds of businesses with advanced investing and payments solutions.
Here are some other ways in which Libra is different from other blockchains:
For the Benefit of E-commerce
The Libra blockchain ecosystem is primarily created for the benefit of the e-commerce industry. In that role, it will create and launch products to help solve the industry problems mentioned above.
One of our core products is Libra Pay, which is a cryptocurrency-backed online payment system supported by a smartphone app. The Libra Pay is powered by the Libra Coin, which is the native crypto token for the Libra ecosystem. Libra Pay can be used by e-commerce operators and users to conveniently and securely make/accept digital payments in fiat or cryptocurrency anywhere in the world. This will also enable merchants to sell products or provide services to a global audience with quick & low-cost cross-border payments.
In addition, Libra will also soon launch a dedicated, decentralized e-commerce platform called the Libra Marketplace, which will bring together all small and mid-sized online/offline retailers on a single, global platform with the convenience of selling to a global audience with convenient & secure payments and a more efficient overall supply chain.
A Comprehensive Business & Payment Platform
Besides e-commerce, the Libra ecosystem has many other components, which make it a comprehensive and all-inclusive business management platform. From small to mid-sized businesses and large corporations in a range of industries can use the Libra products to bring efficiency into their system. Some of the Libra business solutions include Libra Pay for fast & low-cost payments directly to/from anywhere in the world., Libra Exchange for fiat & digital currencies, Libra ATM for easy money withdrawal anywhere, Libra card for quick payments at offline/online stores, and the Libra PoS for merchants to accept payments in cryptocurrencies with fully automated payment & ledger management.
Libra is not here to compete with other blockchain ecosystems. We want to work together with many other blockchain projects to create a truly decentralized and user-driven ecosystem in the world.