The cryptocurrency of the Libra allows Facebook to increase the prices of your ads, said on Wednesday the CEO of the social network, Mark Zuckerbergat the general meeting following a protocol Cointelegraph by the Novi press team.
Zuckerberg was asked at the event how Facebook wants to benefit from it Integration of the scale in your services.
The CEO of the social network replied The scales will make trading more advantageous for companies and therefore increases advertising revenue. Last year, Facebook made around $ 69.6 billion from the sale of ads that accounted for more than 98% of total revenue in 2019.
“When they place an ad, someone clicks on that ad and they are more likely to buy something because they actually have a working payment method that is archived. Basically, it is worthwhile for companies to offer more on the ads.” And we see higher prices for ads in general. “
According to the Facebook CEO, payments are “an area in which the central infrastructure has not been updated for a long time” The scale is ready to make it more efficient.
Calibra’s recent renaming
At the beginning of this week, Facebook’s digital wallet, Calibra, was developed for the sale of scales. It was renamed Novi to avoid confusion with the cryptocurrency. Novi also explained integration with WhatsApp, another Facebook-controlled entity with 2 billion active users.
Novi is scheduled to launch “when the Libra network is available and we have all received it required licenses or permits to offer the services, “a company representative previously told Cointelegraph.
Facebook doesn’t give up despite being controlled by the regulator
Initially, The scale should start in mid 2020. Since then, the company has had a long conversation with authorities around the world.
In April 2020, the Libra Association updated its technical document in hopes of realizing the project be more attractive to regulators. He is also on the brink of a killing spree to strengthen his legitimacy with market regulations.