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‘Libra Will Never See The Light Of Day’, Says Professor Barry Eichengreen
Summary: UC Berkeley professor Barry Eichengreen argues that Facebook’s planned Libra stablecoin faces too many “insoluble” problems, and too much resistance from governments, to ever launch.“Libra is an interesting idea that will never see the light of day,” he told the Unitize conference on July 10.“Stablecoins are either fragile — they are prone to be attacked ...
UC Berkeley professor Barry Eichengreen argues that Facebook’s planned Libra stablecoin faces too many “insoluble” problems, and too much resistance from governments, to ever launch.
“Libra is an interesting idea that will never see the light of day,” he told the Unitize conference on July 10.
“Stablecoins are either fragile — they are prone to be attacked and collapse if they are only partially backed or collateralized with actual dollars or dollar bank balances. Besides, they are prohibitively expensive to scale-up if they are, in fact, fully or over-collateralized,” he concluded at last.
Tracy Chen
Tags: Libra
Link: ‘Libra Will Never See The Light Of Day’, Says Professor Barry Eichengreen [Copy]
