Big governments and central banks cannot tolerate Libra and Bitcoin, because they threaten to break their monopoly on printing money, and to manipulate the economy to accommodate the interests of powerful elites.
Libra has been a talk of town since its launch and because its supported by big big companies like- Uber, Visa, master-card etc so seems banks are worried about their business.
As per Facebook Libra is safe currency backed by assets and it will allow digital payment access worldwide. I will also reduce the use of fiat so I think thats is what making banks and government worried.
Recently Donald Trump shared tweets about bitcoin and cryptocurrency so market is in downtrend and there is huge dip in few days of time.
We all know that digital money is the future and sooner or later we have to adopt it then why not now. Its in early stage and we can get the most out of it now. We can not stop it so rather than finding the way to stop it govt and banks should find the ways to make it beneficial for their business.
Thank you.
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