The inclusive features, high accessibility, low cost ... etc, that have been deployed in the LIBRA campaign, only glimpse a demagogic character.
In this order of priorities, these phrases appear on the official LIBRA website:
Reinvent the money.
Transform the global economy.
It improves the lives of people around the world.
Then it is clear that the welfare of the people is not their priority.
Trying to establish a new currency that has global acceptance is an ambitious project. But with the backing of large companies and governments, as well as a gigantic capital, it is entirely possible.
Therefore, transforming the global economy would be the next step. When the first international trade negotiation transacted in LIBRA is carried out, this objective would be achieved.
But ... who would benefit?
In every business and association, whoever contributes more capital, whoever owns more shares, perceives greater profit.
According to the LIBRA whitepaper there is the Libra Association with its Founding Members. These Founding Members will act as validation nodes within the Blockchain and will be made up of "non-profit" companies and organizations.
Without having materialized the launch of this already famous cryptocurrency, the White Paper has been distorted.
The Founding Members had the opportunity to acquire the exclusive Security Token called Libra Investment Token (LIT). The minimum participation required by the Association was established at 10 Million American Dollars. In a single day it was possible to raise 200 Million. Among the participating companies we find Mastercard, Andreessen Horowitz, eBay, Uber and Spotify. Companies that clearly breach the "non-profit" characteristic.
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