Post
Topic
Board Economics
Re: Can Libra Disrupt The Financial/Economic System?
by
deisik
on 12/11/2019, 21:04:28 UTC
Maybe yes. (but I'm not sure yet). Libra is said to disrupt the financial system because it will potentially become a world currency. As far as I know, Facebook has launched a cryptocurrency called Libra since a few months ago. The aim is to make it easier for people to send money around the world.

No way, Libra can't disrupt financial or economic system, it doesn't have such power. Actually, Libra hasn't achieved any success at all and failed according to all expectation. Also, it will not become world currency. And what exactly that means, that will be officialy used in countries all around the world? I don't think so

It didn't fail due to its intrinsic faults, weaknesses, or flaws

In a sense, it was failed by external forces which its centralized nature couldn't resist or stand up to (this was probably its only "flaw"). So whether it could disrupt the global financial system if it were as resistant and invincible as decentralized currencies are remains open to discussion. But the very fact that it had to be publicly executed and shut down with the help of the big guns in the US Congress speaks much for itself if you ask me