You are viewing a single comment's thread from:

RE: Libra - Banking Innovation

in #cryptocurrency6 years ago

It won’t be low volatility. It’s backed by a basket of currency and securities. It will not maintain a 1:1 peg, specially when the fire hits the dollar and the rest of fiat. Bankers are not going to let corporations move in on their territory like that. It’s not decentralized enough to prevent them from losing this battle. And the number of nodes doesn’t mean decentralization, it’s who has the access to run those nodes. Right now it’s corporations, and soon I’m sure some banks will join to take their piece of the pie. This might be using blockchain, but it’s not a real crypto currency. It’s a controlled currency thats going to burn consumers along the way. When this crumbles, real crypto will still be doing its thing while the world blames cryptocurrency for the crashes, and says blockchain is a failed experiment.