Libra's Commitment to Financial Inclusion is Flagging -- An Update
ovahi.substack.com
Welcome to the latest edition of my newsletter. If you are not a subscriber, please use the button below to sign up. You can send your feedback to mohammed@ovahi.com or @ghalayini_m. And if you enjoy today’s essay, please share it with others! Last year, Facebook revealed a cryptocurrency and payment system called Libra. At the time, I joined a chorus of skeptics in saying that the project was misguided and must change for it to survive. Change it did. In April 2020, the Libra Association released its white paper v2.0, describing how it would assuage serious government pushback. The changes are significant from when Libra was conceived: offering single-currency stablecoins, fully complying with government regulations & controls, forgoing the permissionless blockchain design, and adding protections to prevent destabilizing fiat currencies.
Libra's Commitment to Financial Inclusion is Flagging -- An Update
Libra's Commitment to Financial Inclusion is…
Libra's Commitment to Financial Inclusion is Flagging -- An Update
Welcome to the latest edition of my newsletter. If you are not a subscriber, please use the button below to sign up. You can send your feedback to mohammed@ovahi.com or @ghalayini_m. And if you enjoy today’s essay, please share it with others! Last year, Facebook revealed a cryptocurrency and payment system called Libra. At the time, I joined a chorus of skeptics in saying that the project was misguided and must change for it to survive. Change it did. In April 2020, the Libra Association released its white paper v2.0, describing how it would assuage serious government pushback. The changes are significant from when Libra was conceived: offering single-currency stablecoins, fully complying with government regulations & controls, forgoing the permissionless blockchain design, and adding protections to prevent destabilizing fiat currencies.