Right! It seems so convoluted and pointless. It's basically a way of transferring dollars.
I think it could succeed at being stable...... until it falls apart π
In a way it almost seems like inflation of the USD, lol. Because it's like there's less USD hodling, and you can still essentially use it. I wonder how the government would feel if it started to get big!!
I hope it succeeds in some form or fashion so that it draw more attention to blockchain technology. If the masses can adopt Libra as a stable coin, perhaps it might not be as big of a step into the crypto word.
What would be interesting is if the Libra has some features like my credit card reward dollars. There is a group of affiliated companies that I can chose from where I can spend my reward dollars at a 1.2x exchange. For example, I can get a $25 Home Depot gift card for 20 reward dollars. Sometimes the exchange rate is higher too, but not for companies that I would use though.
This would incentivize me to use Libra for the savings.