Libra Radically Changes the Concept

The sensational project from Facebook, the Libra cryptocurrency, changes its concept and abandons the original idea, which was to create a single global digital coin secured by the world's top fiat currencies.

Participants in the Libra consortium updated the White Paper, which says that they intend to create several stable digital coins, each pegged to a specific fiat currency (US dollar, euro, Singapore dollar, British pound sterling).

"Every stablecoin would be backed by a reserve of high-quality assets and short-term government securities such that their value is preserved," Disparte said. "And we think this type of model improves the proximity to central banks and public institutions". 

The creators did this because the initially proposed model was rejected by regulators in many countries. The consortium insists that the project will be launched in 2020. Rumors about this began back in March this year, but the press service of Facebook denied them in every possible way.

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