Swiss Finance Minister: Facebook Libra Collapsed

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Facebook’s crypto money Libra is having a hard time and is losing two of their supporters. Swiss Finance Minister, Facebook Libra failed and should be worked hard to stand up, he said.

The word to crypto money giren that came into our lives with Bitcoin then began to represent many different entities. Facebook was one of those who wanted to take part in the Bitcoin revolution and started to produce Libra with many important supporters.

On the other hand, Facebook, Facebook is difficult to attract people to the new system. Both people showed distances due to the scandals involved in Facebook, as well as the Zuckerberg’i presently calling the court constantly set the front of the Libra’nın setter.

It doesn’t look bright for Libra.

facebok libra

The Libra has been bleeding since the beginning of October. Other payment systems, such as PayPal, Stripe, Visa and Mastercard, have announced their withdrawal of support for Libra. Swiss Finance Minister Ueli Maurer said the central banks would not accept the ’basket of currencies ağı that the Libra would offer and that the system failed as it was.

Under normal circumstances, we were supposed to see this cryptographic when it was used for transactions next year. It was planned to be managed by various companies and non-profit organizations from a headquarters in Geneva, but things are not going that way at all.

Authorities worried

facebok libra zuckerberg

Authorities have raised concerns about the Libra, both in the US and elsewhere in the world. Central banks and governments, the only legal owners of the right to print money, did not already rely on crypto currency. They were looking at Facebook with even more suspicion. As a matter of fact, the pressure on Libra was great.

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Like Bitcoin, crypto coins are produced, bought and sold in a decentralized system. This attitude of managers who do not exclude or directly disable it is remarkable. This includes the fact that Facebook and the Libra Association will have direct control over this crypto currency.

Not the first criticism of Libra:

facebok libra

In October, French Economy Minister Bruno Le Maire did not hesitate to say that Libra was “not welcome on European soil.” During the autumn meeting of the World Bank and the IMF, the minister said that they would take steps together with Italy and Germany because their independence was threatened.

Adtech and cryptopara expert Jon Walsh said that Libra’s journey would not be easy. Walsh said that turning people’s trust into a company-owned money, not states, was shocking, saying Facebook and his team would be very frightening for governments and central banks if they succeeded.

Earlier this month, Lael Brainard, a US Federal Treasury official, said a fixed crypto like Libra would put consumers at risk without the necessary security systems.

Let’s see how the future of Libra will be, will Mark Zuckerberg be able to establish the system of his dreams? Or will the Libra be a dream?

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