David Marcus: Libra Is Not a Threat!

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David Marcus (a co-creator of Libra) decided to respond to numerous allegations directed at Facebook's cryptocurrency. In his opinion, anxieties related to the fact that this stablecoin may threaten the sovereignty of fiat currencies are a myth!

According to Marcus, this belief is absolutely absurd. He also emphasized that this erroneous thinking process was promoted by public figures who have an impact on society. The CEO of Calibra marked here out, among others, the minister of the French economy, Bruno Le Maire, who argued that the sovereignty of a great number of countries is threatened by Libra.

Marcus claims that this is not worth believing, as Libra will be supported 1: 1 by a basket of strong currencies. This means that its reserve must have an equivalent. The aim of the social media giant is not to create new money, but to facilitate transactions through the new payment network. Marcus believes, that the fiat currency will be used as the basic resource for that.

 

Desirable supervision?

Marcus shocked his followers by saying that all reflections coming from regulatory authorities are desirable. He stated that this would prevent Libra's founders from being far from their ideals. To ensure the highest compliance possible, Marcus promised close cooperation with both central banks and national regulatory authorities.

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