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  • Bredhill Consulting

Will Libra drive the advent of decent crypto-currencies?

Until now, governments and regulators have struggled on the one hand to raise public awareness of the risks associated with crypto-currencies such as bitcoin: speculation, 3.0 scams and, on the other hand, to fight against money laundering and tax evasion related to the use of a "currency" with anonymous transactions.

Moreover, the use today has remained limited although the growth of crypto-currencies has doubled in 2018: about 5% of users, exchanges in value representing one thousandth of global trade, a few hundred thousand merchants accepting these currencies.

However, Facebook and a score of companies would like to create a currency, the Libra, non-speculative, backed by a reserve of dollars, euros, yen, pounds and Singaporean dollars and which could be adopted massively if we take into account the 2.5 billion Facebook users.

Since this announcement by Mark Zuckenberg, the states have accelerated their reflection on the state crypto-currencies, China in the lead.

We have been looking into this issue because central banks and commercial banks can no longer stand by and label crypto-currencies as risky currencies with confidential adoption.


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