We are proud to announce that the Libra Ecosystem has been selected to receive the prestigious URF World Records Certification for participation in a Live Session event on Facebook.
The Universal Records Forum (URF) is an organisation that identifies and honors extraordinary talents and feats, including the making of records in a variety of sectors. The live event that was organized by Musiq Beats on its Facebook page ran nonstop for 24 hours, creating a record. All the 49 participants were awarded by the URF.
The Libra Ecosystem is a global blockchain system for e-commerce businesses. It helps e-commerce businesses with a convenient and global payment system in the form of Libra Coin that allows users to pay in Ethereum (ETH) for their purchases on the website/app. Also, the Libra Ecosystem provides SMEs with a comprehensive platform for managing their investments, finding investors and tracking revenue in a totally transparent and secure manner.
Based on blockchain, the Libra Ecosystem employs cutting-edge decentralization features to boost the digital economy. It enables businesses & users to transact directly with each other in a middleman-free and highly secure environment.
The Libra Ecosystem was created by a global team of blockchain enthusiasts and experts who wanted to solve the various problems of the eCommerce industry, including the lack of efficient financial services, huge competition in the market, the need for middlemen for transaction processing/verification, customer data security, complex process, fraudulent parties, complex and costly investment life cycles, limited payment options, among others.
What the Libra team is building is a comprehensive blockchain ecosystem that will be beneficial for not just e-commerce but any industry that faces the above issues in doing business. The Libra Ecosystem will effectively solve all the above issues of e-commerce business through its first-of-its-kind e-commerce blockchain system.
Libra Ecosystem for E-commerce – Benefits
The decentralized model of the Libra blockchain will allow e-commerce businesses to manage their operations/transactions using smart contracts. Smart Contracts are digital agreements that are designed to execute automatically once the underlying condition/s are fulfilled. It will naturally boost efficiency and reduce the probability of errors and fraud.
Also, the blockchain-based payment system of Libra Ecosystem will bring transparency in eCommerce transactions and allow users to transfer money or make payments without having to trust a third-party like a bank.
Other Libra Ecosystem benefits for eCommerce include better payments systems, including digital currencies, in-wallet trading, cost-effective & quick transactions, enhanced data security, and more.
The Libra Ecosystem also intends to solve the funding issues of small businesses & startups by providing them with a compressive and affordable way to manage their investments, seek investors and track the portfolio performance. It will help investment seekers find and connect with potential investors and raise funds on a decentralized platform, where everything is transparent and the probability of fraud is almost nil.
The Libra Ecosystem is in the development phase and will most likely be launched later this year. Other Libra products that are in line include Libra Financial apps, Libra micro-financing solution, Libra smart point-of-sale (PoS) solution, Libra loyalty platform, Libra mobile wallet, Libra API, Libra e-commerce solution, and the Libra cash management solution.