Libra is not here to replace existing money, announced Bertrand Perez, managing director of the Libra Association. This echoes the sentiments of David Marcus, head of the Calibra project, who stated that as a payment system, Facebook’s stablecoin will not attempt to take over national currencies.
“We are not in the area of implementing any monetary policy with the (Libra) Reserve,” Perez said during a blockchain conference in Geneva.
There is still hope that the Switzerland-based Association will launch Libra in early 2020. But...