Libra'll be launched by Facebook in 2021.It would be finalizing details to launch its cryptocurrency in early 2021, first it needs the approval of the Financial Market Supervisory Authority (FINMA).

Backed by 1$, it would compete with cryptocurrencies such as USD Coin (USDC), Tether (USDT) or TrueUSD (TUSD). They are all relatively stable currencies, pegged to the US dollar.

At the same time Facebook'll launch Calibra, its first wallet. It's an interesting concept because it seeks to integrate the wallet in WhatsApp or Messenger facilitating operations.

All this sounds great if we don't remember that Facebook has big privacy policy gaps, which are essential in the world of crypto currencies.

In fact,the European Union confirmed in August that they would initiate an investigation against Libra for its potential anti-competitive behavior. Following these announcements, companies such as PayPal, Visa and Mastercard disassociated themselves from the project and left the Libra.

What do you think about? It'll be Libra the next big crypto currency?

I don't think so...

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