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Libra coin is expected to become a global currency?
Although Libra has the "internal nickname" of Global Coin (global currency), it still has a long and tortuous way to go before it can "unify the world". Among other things, the 1.4 billion potential users in mainland China alone is an unattainable goal for them in the short term.
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Facebook launches Libra, is it bad for Alipay and WeChat Pay?
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Facebook launches Libra, will it threaten Bitcoin's status?
Indeed, with Facebook's influence on 2.8 billion users, the launch of Libra has played an extremely important role in the popularization and promotion of cryptocurrencies. However, it is too early to say that Libra coin will threaten the status of Bitcoin, and it is even a bit unfounded. As Ari Paul, the co-founder and CIO of BlockTower Capital, said earlier, the emergence of JPMCoin and Facebook Coin (that is, Libra Coin) is good for cryptocurrencies such as Bitcoin. It is much easier to use Facebook's traffic advantages to first attract people and then educate them than to evangelize the masses from scratch.
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Is Libra coin a long-term benefit to ordinary retail investors in the cryptocurrency secondary market?
The launch of Libra coin will likely attract more people to pay attention to cryptocurrencies and bring more retail investors to the secondary market of cryptocurrencies. In this way, the purchase demand in the secondary market may increase in the short term, leading to an increase in the price of cryptocurrencies—especially mainstream currencies. In the short term, this is good news for ordinary retail investors. However, in the long run, Libra Coin may not have much to do with ordinary retail investors, and may even be "bad" to the latter to some extent.
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Libra will help to break Facebook's "monopoly image" in people's minds by virtue of the advantages of "openness and transparency" of blockchain technology?
Indeed, Libra launched its blockchain testnet and made it open source according to the Apache2.0 protocol, making people look forward to its "blockchain" attribute. However, even if the issuance and transactions of Libra Coin are recorded on the blockchain, according to its DPoS mechanism, can it really change the "monopoly image" in people's minds?
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Can Libra coin really protect user privacy?
This issue may be the most concerned issue for friends who have good expectations for blockchain technology and at the same time can't bear the privacy leak. While Libra says in its white paper that "the Libra Blockchain follows the principles of anonymity" and "will continue to evaluate new technologies that enhance the privacy of the blockchain," it also says it will "consider their practicality, scalability, and regulatory implications”. Therefore, for Libra, whose current positioning is similar to that of the alliance chain, our expectations for its privacy protection should not be too high.
On this point, let's see what the big Vs are saying: Binance CEO Zhao Changpeng said on Twitter: "Facebook's Libra coin does not require KYC. They have more data on 2 billion people. Not only you They also know your family, friends, real-time/historical location, what you like... They know you better than you. Now they even know your wallet. It’s really anti-money laundering at its best.”
Dovey Wan, founding partner of Primitive Capital, said: "This is a 'stable currency'; the custodian wallet of this stable currency is Calibra, which is a subsidiary of Facebook, and the background ledger technology is also built by Calibra, so your private key is in Facebook hands."
Sarah Jamie Lewis, executive director of Open Privacy, a Canadian research organization, asked rhetorically, "Do you really believe that most of Paypal, Visa, Uber and Facebook will not collude with each other?"
