The next launch of Pound, the cryptocurrency called to act as fuel for the transactions of Facebook, continues to raise considerable concerns in the political world. In the discussion that followed the publication of Mark Zuckerberg's White Paper, for example, the Bank of England Governor Mark Carney stood out, prompted to release a series of comments that should make us reflect on Libra's potential impact on global geopolitics, According to Carney, in fact, Facebook's digital currency could even reduce the influence of the dollar up to endanger the imperial function, or the reserve currency of the world.
Concerns that have not failed to involve even the stars and stripes institutions, giving inspiration to Senate US to criticize not only the ambitions not hidden by the Libra development group, but also the decision of establish the company that should manage it in Switzerland.
A real barrage fire to which he tried to respond in particular David Marcus, number one of Calibra via Twitter. His debunking work is certainly to be evaluated to try to better understand the validity of the criticisms expressed to date on the project.
David Marcus's answer
David Marcus has decided to leverage on Twitter for his counteroffensive aimed at belittling the concerns expressed by many. In his message he said he did not share the criticism of Libra in relation to the possibility that it could threaten the sovereignty of national states over money. According to Marcus, it is designed to be a better network and payment system compared to those that already exist and that work as a complement to fiat currencies in order to offer valuable services to consumers all over the world.
He added that Libra will be supported at par by a basket of strong currencies. This means that each Libra token will have an equivalent value in its reserve. Mostly, there is no new money creation, which will remain strictly under the jurisdiction of sovereign countries.
Libra will submit to strong regulatory supervision
To silence the bad moods, Marcus added that the new Facebook cryptocurrency will see the advance of his project in total agreement with central banks, regulators and legislators, so that we can finally achieve strict regulatory supervision. A way also to prevent Libra from overflowing assuming such importance as to endanger parity with the panel of strong currencies identified for this purpose.
A commitment, that of cooperation with the various monetary and political actors, on which Marcus has repeatedly placed great importance, to the point of anxiously awaiting the moment when the Libra Association will take on the full direction of the project, or immediately after the ratification of the its institution, so you can concentrate its efforts on the construction of Calibra.
It remains to be seen whether his reassurances will be considered sufficient by the political circles to which they were addressed, or whether Libra will continue to be subjected to a real barrage in the coming months, as has happened so far.