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Calibra Technical Lead Tells Why Facebook Built New Language for Libra

Published 02/21/2020, 10:00 PM
Updated 02/21/2020, 11:42 PM
Calibra Technical Lead Tells Why Facebook Built New Language for Libra

Digital lead for Calibra Ben Maurer gave a presentation on Facebook (NASDAQ:FB)'s Move programming language at the Stanford Blockchain Conference on Feb. 19. Move was created by Facebook to provide a safe and programmable foundation for the Libra blockchain. Maurer explained that Move will make it easier and more secure to program financial applications that run on Libra. He said:

Maurer mentioned that Libra’s mission is to solve the lack of access to financial services, noting that 1.7 billion adults globally are unbanked, yet 1 billion of those individuals have mobile phones. Maurer also noted that migrants lose $25 billion a year due to remittance transaction fees. He explained that he recently spoke with someone who had to go to a physical store and pay a fee in order to send money to their family:

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