RE: The Idea Of Alternative Currency Is Spreading
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If Facebook enters the scene with Libra, it would be the end of the function of the Central Banks, it would be an organization as powerful as the International Monetary Fund (IMF), the International Payments Bank (BIS) or the World Bank, then this would completely compromise the hegemony and world monetary systems in private hands, and more if it is a company that with simple clicks could change the system overnight with unrestricted access to the most remote places on the planet, imagine with colo that it charges 0.001% of commission for the use of its currency or operation, it would already have another market niche in which no one could compete, and of course it would steal that slice of the cake from the financial system that is actually private, and central banks have seen who makes the decisions There, look at the FED, its boards of directors are made up of private companies, so if we talk about private, everything is private or the vast majority, although it seems that it is public.
but hey time will tell if we are well, the important thing is to stay in this industry that thank God we have come on time even if it is little, little by little we are building our heritage, here, so if the CBDC come, well we are ready to interact With it we already have prior knowledge and we will be able to take advantage of opportunities such as arbitrage that could be generated between each other, so the industry is booming and leaps and bounds, if not because pay pal accepts BTC something they have seen and well we go to the queue behind with our toy coins but tomorrow maybe there will not be so many toys but look at the BTC it started as a toy but it is already an investment instrument.
Greetings and thanks for the reflections.
sorry for the bad english but i speak spanish and i do my homework little by little.
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I think you nailed it. Facebook would instantly (or quickly) become more powerful than all of the central banks and other monetary institutions. The way the Libra was set up, Facebook and their partners would end up with a vast amount of the world's fiat currency.
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If that is why they will not leave it unless it is intelligent and does it through the Central Banks or let the government do it for example by giving it a shareholding in the company, that will be the only way or if you create a new company and make you participate to the government, hey, that would be something they could do but I don't know why it hasn't occurred to them to share the cake with the governments and that would be the only way they will let them do this, otherwise they will go out of their way.
But hey time will tell the truth for now let's hope at least we can see the full movie to see where it ends.
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