Facebook Reconsiders LIBRA Cryptocurrency Plans

[sirty143]

Facebook is reportedly shifting its plans to launch a new digital currency following widespread criticism of its Libra cryptocurrency project. The technology giant will now open the payments network to support digital versions of existing currencies, such as the US dollar, Euro and pound sterling. See more for yourself here!

Guys, what can you say about this? Your opinion about this new development would be appreciated.

[Fenix]

In other words, the sensational stable coin of Libra will never appear. This was to be expected after regulators and the US Congress sharply criticized this coin, and European Union finance ministers directly stated that they would forbid its circulation in their countries. After that, for almost a year, little was heard about this coin, although Zuckerberg still announced that it was being prepared for release.
This scandalous project pushed the states to issue their national stable coins and, perhaps, this circumstance also served as one of the reasons for the collapse of this project.

[Alcor]

This is to be expected. Now the Libra project is officially dead. I was against the appearance of this coin, since a significant part of global finance cannot be transferred to private hands. The risk is too great. Such stable global coins should be supervised not even by one state, but by a group of states whose currencies are included in its provision.

[sirty143]

This is to be expected. Now the Libra project is officially dead. I was against the appearance of this coin, since a significant part of global finance cannot be transferred to private hands. The risk is too great. Such stable global coins should be supervised not even by one state, but by a group of states whose currencies are included in its provision.

LIBRA project is not yet dead, it's still breathing! Libra returned to the drawing board to augment some major update to their cryptocurrency platform so as to make it more attractive to regulators as the original plan wasn’t too good for them.

[Bobcrypto]

Libra project has experienced a lot of challenges, hence it was suspended by the team, I believe  it may resurface in near future  because it has a very potential if finally launch on cryptocureency  economy.  The plans to bringing back is good development in my opinion.

[sirty143]

Libra project has experienced a lot of challenges, hence it was suspended by the team, I believe  it may resurface in near future  because it has a very potential if finally launch on cryptocureency  economy.  The plans to bringing back is good development in my opinion.

Hey, mate! What's your opinion on this, "Facebook’s Libra Will Now Scale to Develop Several Stablecoins". Just don't know if it's a good development or not.

[Zack777]

I doubt anything comes from this Facebooks ZuggerBucks scheme.

Recent negativity toward stablecoins from legislative perspective combined with the possible/likely DigitalDollar.
Also China has already started tests of their DigitalYuan project on some provinces.

[mlawson71]

They're hoping this new plan will attract new investors after the likes of MasterCard and Vodafone left them.

[damsix]

oh wow before we have commented to other links that Libra will be fully supported by Mark Zuckerberg.
But apparently I saw this thread and thought for a moment that whether Libra would be left just like that. hmmmpp

If I look at it like this then surely Facebook will focus more on developing Fiat transactions rather than cryptocurrency as already said by the OP.

[kent47400]

Oh My God , Why should wishy-washy thoughts like this come from MArk Zuckerberg ?
So why in the past did LIBRA want to create its own coins if it now prefers to support USD, EURO and Pounds Sterling ?

Hey Mark, you should focus on developing your cryptocurrency and LIBRA should not be ignored !

[gourav787]

There is still some doubt about libra project , becuase there is alot of big invester leave libra properly . Now Libra look for good invester . I think there is minimum chance that Libra come in market.

[masudginanjar]

Is LIBRA upset?
Is LIBRA afraid?
Is LIBRA worried?

If you look at this fact it seems LIBRA has these three questions.
LIBRA is afraid of the uncertainty of cryptocurrency prices because of the unclear fluctuating nature.

So, LIBRA prefers stable coins to be paired with LIBRA coins to be safer.

[Noverteno]

We do not know how the countries of the European Union now look at such amended plans. Earlier, the finance ministers of these countries stated that they would not allow Libra to walk on their territory. Without the European market, Zuckerberg will still fail. In any case, this project missed its chance for an effective birth and the updated Libra will no longer have the same meaning as previously planned.

[ashraf786100]

In other words, the thrilling stable coin will never appear. According to regulators and the US Congress, the issue has been raised since then, and the European Union (EU) has said it will not allow the issue to be resolved in the near future. After all, there's been a lot of talk about this year, but Zuckerberg is still trying to figure out what he's up to.
This blasphemous plan forced the states to issue their own nationally stable coins And perhaps this situation is one of the reasons for the collapse of the project.

[ryap12]

In other words, the thrilling stable coin will never appear. According to regulators and the US Congress, the issue has been raised since then, and the European Union (EU) has said it will not allow the issue to be resolved in the near future. After all, there's been a lot of talk about this year, but Zuckerberg is still trying to figure out what he's up to.
This blasphemous plan forced the states to issue their own nationally stable coins And perhaps this situation is one of the reasons for the collapse of the project.

I hate it when the US congress or US related parties interfere into cryptocurrency projects like LIBRA. LIBRA would have been in the market by now if it weren't for these US folks. Though there are pros and cons about it but the crypto market would have been much better without them. My opinion only