Post
Topic
Board Economics
Re: Cryptocurrency and Remittences
by
Findingnemo
on 20/10/2019, 18:55:54 UTC
Why is the Libra dream dead? (Which I hope it is.)

Maybe because it's backers are withdrawing from the project and Facebook's prime market US doesn't like Libra's concept.
For the use of remittance, bitcoin could still be a good option. Though it's fee seems large for small transactions, it's much better than swift fees or western union fees for sending remittance. There are other options like lightning network or the BEP2 token from binance but it would depend on the parties involved more than the choice of currency.

Thank you. Yeah, I just read that all of their partners are backing away from it. I just don't trust facebook so I'm glad.
Anything centralized should not be trusted because they can make changes if they want so giving them an upper hand will do more harm than good but I don't think Libra projects will be completely dropped,they will aim to launch it and also will spend millions to attract customers to use their service once they convince government or willing to pay huge taxes for allowing their service.