Will Facebook and Telegram Kill Bitcoin and Ethereum?
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Telegram is releasing its own blockchain with the goal of processing millions of transactions per second. Facebook plans to introduce Libra coin to facilitate payments for 1.7 billion unbanked but connected people. Bitcoin is genuinely used as a means of payment between the parties, especially when it comes to cross-border payments. The launch of Libra by a consortium of companies led by Facebook will open a new epoch for blockchain adoption, though it is not actually a digital currency. Stable coins are used as proxy to fiat currencies and hence, the store of value.