Also Libra it will be a virtual currency, but unlike Bitcoin or Ethereum its value will remain anchored to that of real assets such as official currencies, gold or government bonds. A stablecoin, therefore, less subject to volatility and therefore more suitable for large-scale use, even by those who do not intend to see their savings go up in smoke from one moment to another as a result of speculative maneuvers of others.
Libra: euro and dollar for the stablecoin
Over the weekend, rumors have emerged about the assets that will make up the so-called Libra Reserve. To bring back the headline Der Spiegel: 50% US dollar, 18% euro, 14% yen, 11% sterling and 7% Singapore dollar. The information would be transmitted by Facebook to the German politician Fabio De Masi. Using the conditional is mandatory since there are no official confirmations.
Germany is among those countries that have expressed their intention to see clearly about the programs put in place by the social network in blue and by the other members of the Libra Association. The initiative has ended since the days of the announcement in the eye of authorities around the world with doubts and concerns raised also by the central banks.
Libra's debut is scheduled for next year with an integration in Facebook services and more generally in the form of cryptocurrency to be exchanged all over the world for the sale of goods and the transfer of money. The decision to finance its value for 50% with the US dollar could be aimed at reassuring the overseas authorities. The same goes for the exclusion of the Chinese yuan, considering the growing tensions between Washington and Beijing with regard to diplomatic relations and on the economic-commercial front.