These eight people are the most "hate" Facebook, but Lirba is still Libra.

When we are no longer us, will Libra still be Libra?

What is the biggest benefit of Facebook's latest cryptocurrency Libra? Is it its BTF consensus algorithm? Is it the Move programming language? Or is it an account-based data model or a standalone Merkle tree structure?

neither.

The greatest thing about Libra is that it touches the nerves of traditional bankers, because they finally feel the crisis. Libra not only threatens the hegemony of traditional finance, but also subverts their worldview. So far, who (and institutions) are the most “hate” Libra?

1. The Bank for International Settlements (BIS)

The Bank of International Settlements is known in the financial industry as “the central bank of the central bank,” and they recently released a report: “Big tech in finance: opportunities and risks”, which mentions:

“Considering the broad customer base of large technology companies, access to information and a broad business model, regulators need to ensure a level playing field between large technology companies and banks.”

If you "translate" the above sentence, in fact, the Bank of International Settlements means that traditional financial institutions do not have a fair environment compared with big technology companies. They must strive for "fairness" for traditional financial institutions.

2. Maxine Waters, Chairman of the US House Financial Services Committee

Maxine Waters seems to be the most famous "black powder" for the Facebook Libra cryptocurrency project. Shortly after the release of the Libra white paper, she said:

“For [Facebook], it’s important to stop what they are doing immediately, so that we can understand what they are doing. We must protect consumers, and we can’t allow Facebook and their employees to go to Switzerland and start competing with the dollar. ""

If you "translate" the above sentence, Maxine Waters's implication is that "the dollar is the only permitted global currency."

3. Philip Lowe, CEO of the Australian Central Bank

澳洲 Low, the chief executive of the Reserve Bank of Australia, RBA, has made a clear statement about the Facebook Libra cryptocurrency project, he said:

“Australia does not allow cryptocurrencies to grow significantly, because we already have a very, very effective electronic payment system that allows us to pay anyone else… Facebook has a lot of regulatory issues to solve, they It must be ensured that there is a reliable business case."

4. US Senator Sherrod Brown

Sherrod Brown believes that Facebook is too large and powerful, and has relied on this "power" to take advantage of user data rather than protecting user privacy. We cannot allow Facebook to run riskier cryptocurrencies from Swiss bank accounts without supervision.

5. US Senator Elizabeth Warren

According to Elizabeth Warren, he believes that Facebook does not protect users' private information well, and they have too much power. So Elizabeth Warren asked Facebook to take responsibility and not give them access to more user data.

6. French Finance Minister Bruno Le Maire

Bruno Le Maire's attitude towards Libra looks extremely tough, and he claims that Libra's desire to be a sovereign currency is impossible, and that this can't and won't happen.

7. European Parliament Markus Ferber

Markus Ferber said that if Europe is to introduce virtual currency, it should not allow multinational companies like Facebook to operate in an imperfectly regulated environment.

8. Felix Hufeld, President of the German Federal Financial Supervisory Authority (BaFin)

Felix Hufeld said:

“Of course we can't just focus on the development of Libra, we have to respond appropriately in a certain way.”

The cryptocurrency car has been unable to stop.

These eight people are the most "hate" Facebook, but Lirba is still Libra.

Traditional bankers do make some near hysterical criticism of the Libra cryptocurrency program. The digital currency launched by Facebook may be successful, and it may soon fade away under regulatory pressure. But no matter what the outcome, it can't stop the beginning of the Bitcoin revolution. The future of money will be digital, as one wise man once wrote: "If you don't believe me or don't understand me, I don't have time to try to convince you, sorry."

When we are no longer us, will Libra still be Libra?

This article comes from Bitcoin.com , the original author: Kai Sedgwick

Translator: Moni