Yesterday I've read
an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.
Facebook did respond at the end of July. In their quarterly investor reports,
they admitted Libra may never launch at all:Facebook says significant regulatory scrutiny has made the project's fate uncertain. The tech giant admits the significant uncertainty around Libra means there can be no genuine assurance that the project "will be made available in a timely manner, or at all," per CNBC.
My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?
It's a tossup. It'll expose the masses to "cryptocurrency" and make the idea more accessible. However, Libra is highly controlled. Transactions can be reversed, accounts frozen. It'll give people the wrong idea about what (decentralized) cryptocurrency is.
But one wrong move by the Libra team will be remembered for a lifetime by the users, aside from that it is also risky for the scoial app which is facebook, they will meet the same fate when there are somethings isn't right anymore. So far if things go smooth then
I guess it could give a fresh start for the massive dump of crypto and gain the trust of the people again.