Libra cryptocurrency is not to replace existing funds: project leader

FILE PHOTO: a Small toy figures in the painting are to be seen in the representations of the virtual currency in the front end of the Scale, the logo in this illustration picture the 21 of June, 2019 at the latest. REUTERS/dado Ruvic/File Photo

GENEVA (reuters) – The Facebook-written (MK.(O) Scale cryptocurrency, will be launched by a Geneva-based association for next year, and it is not intended to take the place of the existing currencies, the Scale’s Association, Director of the Bertrand Perez said on Friday.

“We’re not in the area, and the implementation of monetary policy (Balance) of Reserve,” Perez said in a blockchain conference to be held at united nations headquarters in Geneva.

It is a project that can help you with many of the U. N. sustainable development goals, such as the elimination of poverty and the achievement of gender equality, ” he said at the conference, where speakers from the Swiss National Bank and the International Monetary Fund (imf).

Reporting by Brenna Hughes Neghaiwi: Editing by Michael Shields

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