It's not new that Libra is facing some big troubles to maintain their ideas of a global stablecoin and payment service, but the imminent and audacious idea to create a global system of money, surely gave an impulse to the world of Finances and the compulsive adoption of Blockchain.

The Libra project was announced early in June 2019 and, until that date the PBoC was the only, at least official, Central Bank that was researching seriously the issuance of a CBDC in their territory, but after that announcing was a completely new development on the CBDC field and adoption of Blockchain.

The PBoC (People's Bank of China), increased their research and start making more releases about their Central Bank Digital Currency, and also the country Leader Xi Jinping endorsed to adopt the Blockchain to be used to develop the Industry and services in China, and put the territory upfront with the knowledge on the Blockchain tech.

It's certain that the user base of Facebook and the connection with a Global stablecoin, the Libra, of course threatened the sovereign nations, and made them rethink their strategy in allocating means of payments that can be more effective, faster, transparent, less cost effective and Global.

From the time the Facebook announced their project, the world of traditional Institutions changed their approach and start entering to the Blockchain adoption and issuance of CBDCs.

Zuckerberg, can be proud for his intentions, despite his own project being facing Regulators issues also some bans in Europe, he opened a new role in the world of Finances... The digital version of money based in Blockchain or the digital Currencies.

If we note, all the posterior Central Banks, that announced the intentions to create a CBDC, was after the Libra project was announced, and since then the Libra stablecoin has been suffering counter attacks... They are affraid, yes, the Billions of users the FB has are potential adopters of Libra, and that threaten the Governments.

The world now is running to embrace the issuance of CBDCs and even the World Economic Forum (WEF) entered with suggestions with a "tool kit" to help the sovereign nations to see if the Central Bank Digital Currency are right for them right now.

One thing is certain, Libra will face serious problems to "give life" to his project and the digital centralized Currency will be soon a reality, they will all adopt the Blockchain.

** Image from pixabay.com free for commercial use.