Facebook has already kinda promised us that their Cryptocurrency LIBRA will be up and ready by 2020 and it seems PayPal is now kind of getting a little worried about LIBRA. To be honest the article doesn't say much but we all know that PayPal might be the Institution that may be hugely hit from the success of LIBRA so yeah they should be wary.
Another thing to notice is that if LIBRA is a sucess then it will open the doors to a lot of Cryptocurrencies which might get some much needed Institutional Money that we all need in the Cryptocurrency Market. Now some might say that Institutional Money is already here, and I will agree to that but I don't feel all the Institutions are into Crypto right now but that might change with LIBRA's success.
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It's true it will bring the institutional money to cryptoverse but I don't think it'll open any doors for other currencies. Rather I think it'll try and monopolize the industry. Anyways I highly doubt the LIBRA project will be a success (maybe in some countries it will)
LIBRA will most definitely try to Monopolize the Industry and there is no doubt in that but you have to think from an Investor's point of view.
Have you ever seen an Investor who has all their Fingers in a Single Pie?
Investors love to Diversify their Portfolio so if they enter the Crypto Market they will most certainly Diversify into other Cryptos as well.
As for LIBRA's success, we just have to wait and see it for ourself.
That's quite interesting! You are right, I hadn't looked at it from an investor's point of view. I guess we have to wait and see what happens.