“Libra” the Facebook coin project that has been under much deliberation during the last few months gave way to many rumours. Facebook has put all of it to rest with the Libra project White Paper released today on the 18th of June, 2019. The stablecoin dubbed Libra would be backed by the blockchain of the same name whereas the financial backing would be coming from reserved assets that would be designed to ensure that the true “intrinsic value” of the assets is reflected. The assets would be held by “a geographically distributed network of custodians” Interestingly, Facebook would not be