Will Libra become the “UN coin”? Libra Association: We can help the UN achieve many sustainable development goals

According to Reuters, the head of the Libra Association believes that Facebook-led cryptocurrencies may benefit the United Nations.


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At the blockchain event at the UN headquarters in Geneva, Bertrand Perez, managing director of the Libra Association, said that their planned cryptocurrency can help the UN achieve its sustainable development goals in the areas of poverty eradication and gender equality. .

Libra plans to become a stable currency supported by legal tender and government bond reserves. Although Facebook CEO Mark Zuckerberg seems to imply yesterday that the timetable is not static, it is scheduled to be launched in the middle and late 2020. Facebook CEO Mark Zuckerberg was asked in an interview with the Nikkei Asia Review today when Libra expected to launch, but he did not respond positively. He said: "Obviously, we hope to make progress in the near future, rather than let this plan take many years to launch. But now my real concern is to ensure that we can do this well."

Zuckerberg also said that Facebook is taking a more cautious approach when it comes to a Libra-like project that is "very sensitive to society," leaving a period of time for consultations and "solving problems."

Perez also talked about regulators' concerns that Libra may pose a threat to national monetary policy. He said that Libra did not create money through this project.

France has said that because its "monetary sovereignty" is threatened, it will seek to prevent Libra from joining the European Union, and Germany and the United States have expressed similar concerns.

Perez stressed:

"We are not going to use (Libra) reserves to implement any monetary policy."

According to previous announcements, Libra will be funded by a basket of fiat currencies, with the US dollar accounting for 50%, followed by the euro (18%), the Japanese yen (14%), the British pound (11%) and the Singapore dollar (7%).

Forbes also reported that at the 73rd UN General Assembly (UNGA) in New York this week, blockchain is increasingly seen as a technology that can help the UN achieve its sustainable development goals.

Dr. Jane Thomason of the Blockchain Technology Center at University College London said:

“The blockchain activities held at and around the UN General Assembly this year are increasing, with a focus on demonstrating how the blockchain continues to contribute to sustainable development goals by providing some excellent use cases.”