Libra Domino Effects

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Libra is backed assets cryptocurrency issued by facebook. There are many custodians that bsck up libra currency. They are Farfetch
Lyft,Spotify AB, Uber Technologies and some other companies. Libra will be pegged 1 USD. The launch of Libra will be planed in January 2020. It is a good news or bad news.

The launching of libra has domino effects to the global finance. The effects can be good and bad. There are some predictions of domino effects of libra coin.

Possitive

  1. Crypto mass adoption
    Facebook users are millions. When they are exposed to libra, they will understand more about cryptocurrency. This will triger developers to create new apps that benefit for daily life.
  2. Unbanked people earn more benefit.
    Unbanked people will get more benefit. They can use librs and other cryptocurrency to trade, transfer and accept payment to international traders and businessman.
  3. Cheap, easy and borderless transaction.
    With cheap fee and not limited by teritorial,facebook users will be like a citizen of one world. Facebook is a native land for facebook users. Trade,and sending moneu will become commom activities in facebook.

Negative effects

Though libra offer some benefits, the launch of libra is not free from critics.

The first critic is front central banks. Facebool will be shadow banks that will threathen the stability of currencies. Libra will also cause to increase of money laundring.

In September 2019, French Finance Minister Bruno Le Maire refused to deny Libra entry into Europe because of threats to the country's sovereignty. It is feared that Libra will ignore systemic financial risks and attack by dominant market players.

https://id.m.wikipedia.org/wiki/Libra_(mata_uang_kripto)

Like or dislike

Crypto time has come. Will banks, authorities and financial institutions like or dislike, cryptocurrency is shifting the financial market and system. This condition needs adaptation from banking industries and othet financial sectors. The launch of libra is a shape of adaptation of the giant of social media facebook to win competition in the crypto mass adoption time.

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7 comments
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If the people around he world will more accepted to know more Crypto by launching of Libra from Facebook, it is better for Crypto earners and Currency conversion process.

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Of course it is but for banking industries , libra will be a tough competitor.

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i do not have facebook for this reason libra maybe yes or maybe not if facebook get an airdrop to all users maybe get a lot of users news like me, well the laundery money with facebook coin i do not believe that increase because the controls maybe are more hight but the time say us what happens with this proyect.

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not get airdropped but unbanked fb users csn use libra for promoting on fb ads

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Well they removed the negative by only going with the USD instead of a basket of fiats.

In my opinion, this effectively made Facebook one of the most powerful financial institutions in the world, only behind the Fed.

We will see how it pans out over time but this will really alter the path of finance.

Tech companies are taking over.

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that is why banking industries do not like libra project because libra will compete with central banks

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