Babbitt column | Six key points of Facebook's CaLibra/Libra

1. Scalable Licensed Alliance Chain/DLT Technology Based on LibraBFT Consensus Algorithm: There are currently 28 nodes, and it is planned to reach 100 nodes in the near future. FB is only one of them, and finally hopes to evolve into a license-free public chain.

Scalable permission Blockchain/DLT based on LibraBFT consensus (current only 28 nodes and 100 soon, FB is just one of 100 nodes, will migrate to permissionless public chain finally);

2. A stable cross-border digital cryptocurrency Libra: 100% supported and anchored by a package of legal and short-term national debt.

A stable & borderless digital cryptocurrency Libra FULLY backed by the Libra Reserve with Fiat currencies and short term government bonds;

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3. Innovative digital assets and smart contract programming language MOVE: Safer, simpler and more convenient.

New digital asset and smart contract programming language MOVE for better security and easy to use;

4. Open non-profit self-governing organization Calibra: With the conditional restrictions, Facebook FB is only one member.

Conditioned open non profit DAO organization Calibra (FB is just one of the members);

5. Calibra's Lith Incentive Token: LIT is a value store and investment for Calibra, separate from its functional token, Libra. This model is consistent with the dual currency model I have been advocating (a value token VT for value storage and investment, here is LIT; another utility token UT for use circulation, here is Libra).

Calibra's LIT (Libra Incentive Token) for value storage is isolated from Libra (Utility Token) . This DUAL Token model is in sync with my dual token proposal (one Value Token VT for Value Storage/Investment (LIT) and another Utility Token UT for Utilization Libra);

6. The application developer AD and the service provider SP use the open API provided by Calibra (such as wallet, contract language MOVE, etc.) to develop applications and provide services. Application developer AD and service provider SP business model is isolated from Calibra's business model. Facebook FB is only one of the application developers AD and service provider SP, not tied together. Facebook FB is not Calibra, Calibra is not FB, the two are completely different. FB will not directly benefit from Calibra and can only benefit indirectly like other application developers AD and service provider SPs, profiting from their own application services (just like WeChat payment).

App developers and Service Providers (FB is just one of ADs/SPs) will use Calibra open APIs (likely via Wallets, MOVE, etc.). The business models of ADs/SPs are separated from Calibra, not bundled together. FB is Different from Calibra and FB will NOT benefit directly from Calibra (like from Calibra's incomes) but indirectly as all other ADs/SPs do (as WeChat Pay does).

Author: Larry, starting authorization Babbitt Information

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