Facebook's Libra has failed in current form: Swiss president

Sorry for x-posting this in Telegram and Discord, but it seems quite important and there is still no comment by the Libra Foundation, this seems weird to me. I am specifically interested if Libra wants to stay with the basket or will change to (a/several) 1:1 currency backed stablecoins.


i saw the same somebody else posted and just wonder if they need to change the design in case of a new scheme(1:1 currency backed stablecoins) :face_with_hand_over_mouth: :thinking:

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Technically? I assume there would be more than one LibraCoin contract then, but the logic would be pretty much the same. Or it could be an attribute on the LibraCoin designating the currency.
Pretty sure this is much much more a political issue then a technical one :boom:

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I just speculate it’s not easy to change it as they have lots of stakeholders :bomb: :eyes:

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I prefer Libra because it is backed by multiple currency assets, rather than being tied to a single currency. The USD is the most likely candidate, but there are already other stable coins available for that. Libra’s mix makes it global and unique.