Libra Association Adds Three New Members

[Paglamon]

The Facebook-backed Libra Association has added three new organizations to its ranks. These include cryptocurrency industry investment firms Paradigm and Slow Ventures, as well as Temasek, one of Singapore’s two government-owned investment vehicles.

Temasek has a portfolio valued at more than $300 billion, and it’s expected to play a unique role in the Libra Association. Through a spokesperson Chia Song Hwee, deputy CEO of Temasek, said:

"Our participation in the Libra Association as a member will allow us to contribute towards a regulated global network for cost-effective retail payments. Many developments in the space excite us – we look forward to further exploring the potential of the technology.”
Temasek has in the past shown interest in blockchain-related ventures, teaming up with JP Morgan and the Monetary Authority of Singapore in November for a blockchain-based payments platform. The additions increase the influence of financiers in the Association, making them the largest croup by industry. They now wield nearly 30% of members’ control over the project.

[Pegasus]

With what Facebook has done with users' privacy in the past, Libra must be terminated at whatever cost. It's not about Libra being a bad project, but about how Facebook betray its users by selliing their data. What if Facebook would do the same with Libra's data? Billions of dollars would be threatened then. It could be a tragedy.

[Fenix]

It is unlikely that the Libra project will already have global significance, as it was originally planned. After the finance ministers of the European Union states announced that they would not allow Libra to go on the territory of their countries, without the European market, the stable coin of Libra will no longer play a significant role in the financial world. In addition, many states are now working on the creation of their national stable coins and they will create serious competition for such stable coins of commercial structures. It seems to me that even the digitized yuan of China will have more popularity than Libra.