The controversial Libra project of Facebook is yet to be launched but founder Mark Zuckerberg was seen discussing how it could help it make more dollars. In an annual shareholders <a href="https://www.timebulletin.com/mark-zuckerberg-clarifies-how-libra-could-boost-facebook-to-get-more-cash/" target="_blank" rel="noopener">meeting </a>on Wednesday, the Facebook man stated that the introduction of a <a href="https://www.cryptoknowmics.com/news/facebook-to-solve-hard-challenges-faced-by-libra" target="_blank" rel="noopener">cryptocurrency such as Libra</a> would boost commerce as businesses would be able to sell more, therefore resulting in higher ads prices. Elaborating his point further, he stated libra would be a source of payment so the users will be able to buy more instantly thereby boosting sales.

Advertisers on the platform do not pay a fixed price. They pay according to the reach they want to obtain and Facebook even allows advertisers to choose their target audience by letting them choose their desired area and age.  The lack of a set price and a boost in business would ultimately help Facebook make more money as advertisers would be willing to pay more than before.

Zuckerberg believes that Libra would enable the users to pay in a cryptocurrency more efficiently which would lead to higher bids on ads, ergo higher final price that Facebook receives from the bidding.
<h2>Motives Behind Libra Project Becoming Clearer</h2>
His words definitely shed more light on the strategy adopted by them in regard to the Libra project. While so far, the regular statements usually revolved around how through the Libra project, Facebook wants to enable a payment service and aid the users by helping them not to pay over the odds to send money overseas, this suggests that making profit through it is also a motive.

The Libra project recently added new members such as Shopify and also hired a new general counsel. The troubles it has encountered with the regulatory bodies are far from being resolved and permission before profit should be the <a href="https://www.theverge.com/2019/10/23/20929313/mark-zuckerberg-hearing-congress-libra-calibra-facebook-maxine-waters" target="_blank" rel="noopener">agenda </a>of the team and Mark Zuckerberg, at least for now.
<blockquote class="twitter-tweet">
We are pleased to announce that <a href="https://twitter.com/Temasek?ref_src=twsrc%5Etfw">@Temasek</a>, <a href="https://twitter.com/paradigm?ref_src=twsrc%5Etfw">@paradigm</a>, and <a href="https://twitter.com/slow?ref_src=twsrc%5Etfw">@slow</a> are the newest members of the Libra Association. We look forward to working together to break down financial barriers for billions of people. <a href="https://twitter.com/hashtag/TechInnovation?src=hash&amp;ref_src=twsrc%5Etfw">#TechInnovation</a> <a href="https://twitter.com/hashtag/FinancialInclusion?src=hash&amp;ref_src=twsrc%5Etfw">#FinancialInclusion</a><a href="https://t.co/ApuE6b5FSw">https://t.co/ApuE6b5FSw</a>
— Libra (@Libra_) <a href="https://twitter.com/Libra_/status/1261070548861419520?ref_src=twsrc%5Etfw">May 14, 2020</a></blockquote>
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Facebook Eyeing to Make Profits From its Libra Project

Mark Zuckerberg believes Facebook can benefit from its Libra project as the availability of the cryptocurrency could lead to more revenue from advertisers.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Facebook Eyeing to Make Profits From its Libra Project

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