Blockstream CEO: Libra is just a modern banking application and has nothing to do with cryptocurrencies

Blockstream founder and CEO Adam Back said that in his opinion no stablecoin can be compared to Bitcoin. Although stablecoins are feasible and useful for certain crypto use cases, these use cases are essentially not in line with Bitcoin's requirements due to the risk of custody. And Facebook's crypto project Libra has nothing to do with cryptocurrencies, it is just a "modern banking application".