The association will promote the open-sourced Libra Blockchain and developer platform with its own Move programming language, plus sign up businesses to accept Libra for payment and even give customers discounts or rewards. Hayner told CoinDesk that a Facebook-centric social wallet seemed like the best avenue for starting a bitcoin company. They held the promise of disrupting how things are bought and sold by eliminating transaction fees common with credit cards. So the social network recruited the founding members of the Libra Association, a not-for-profit which oversees the development of the token, the reserve of real-world assets that gives it value and the governance rules of the blockchain. You could imagine eBay or Spotify giving you a discount for paying in Libra, while wallet developers might offer you free tokens if you complete transactions within a year. For each transaction they process, merchants will also receive a percentage of the transaction back.