Lately when we talk about the Sacred Monster of Zuckerberg, Lybra, the Facebook Stable Coin, comes back to mind.
We all know, some more or less, Lybra, the cryptocurrency that patron Facebook is trying to launch, so we can leave out the technicalities we all know.
But let's see what implications this coin can have in both the social and crypto spheres:
- With 2.4 billion users using the platform, there will certainly be widespread dissemination of crypto technology;
- This disclosure will undoubtedly lead to a gradual abandonment of traditional currency, so a migration of banking institutions to the use of DLT (Distributed Ledger Technologies) is desirable;
- All disputes against Facebook regarding Privacy and fake Accounts, which have compromised its credibility, are destined to end as KYC (Know Your Customer) identification procedures and AML (Anti Money Laundering) anti-money laundering procedures will be required a lot strict and mandatory;
- Many of the companies that share in Calibra, the Swiss Foundation that will govern Lybra's operations, are mostly established technology companies, which means that technology companies are also carving out a slice of the global financial market.
As we can see, the positives are many, even if the co-founder of Ethereum Joe Lubin defines Lybra as a "centralized wolf in decentralized sheep's clothing".
This crude definition contains two pale truths: the first is that since the Calibra foundation manages everything, the decentralization of cryptocurrencies is lacking.
Secondly, it is difficult to define Lybra as a Stable Coin because it does not refer to a single fiat currency, but at least to four currencies: Dollar, Euro, Pound Sterling and Japanese Yen.
It goes without saying that, while Tether will always maintain the value of 1 USD, Lybra will have fluctuations depending on the underlying assets used and their composition.
Given the scenario, how can we blame those who define a credit institution calibration? (I am among them).
A credit institution with the participation of companies that have paid staggering amounts to enter!
At this point the question arises: but then this maneuver is only speculative?
It is still premature to advance theories on the subject, because until everything is activated we will not be able to know.
In fact, however, there are some doubts, I am trying to explain it better.
If all payments go through Calibra, each operation will be traceable and therefore black payments and money laundering are eliminated at source; a real godsend for governments!
Seen in this way, it is not clear why there are always obstacles to starting the supply chain; evidently the screening technicians have seen something that does not completely convince them.
Despite the 5 fundamental pillars of cryptocurrencies (Open, Public, Neutral, Without borders and resistant to censorship) are disregarded, I am convinced that once the project is started there will be a good movement!
Just think, 2.4 million people who start using Lybra this controversial "Crypto" will slowly approach the Blockchain, slowly become familiar with Wallets.
They will enter the currency of the future!
They will learn the difference between their Wallet and a pseudo Wallet managed by third parties and there they will discover a new, different world: a world tailored to them, where their money will in fact be in their hands and they will be able to manage it without being accountable to nobody.
