Bitcoin has been around for more than ten years, but governments have been shaken by Libra

The introduction of Facebook’s digital currency Libra has caused a lot this year. The currency has not yet been launched, so it is still unclear what the real consequences are.

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1 Facebook was not careful

2 Libra shakes governments awake

3 Governments and digital currencies

4 Related posts:

But according to Nic Carter, Libra at least ensured that cryptocurrency is taken seriously by governments. Carter is a co-founder of Coinmetrics, a data analysis company specializing in the cryptomarket.

Facebook was not careful

In an interview with Coindesk, Carter gives his unsalted opinion about Facebook’s Libra project. According to Carter, Facebook has committed a serious mistake:

“Facebook wants to link the value of Libra to a lot of foreign currencies, and only a small part to dollars. But of course you insult the American Congress with that. The dollar accounts for around 70 percent of all international trade. “

Libra shakes governments awake

Carter also finds it striking that Congress has been “woken up” after the announcement of Libra. Suddenly there was the threat of cryptocurrencies and unregulated currencies. And that is actually strange, bitcoin has been around for more than ten years:

“Governments underestimate bitcoin. I think the congress does not even realize that a non-business project such as bitcoin can actually pass for money. Or maybe they were convinced by congressmen such as Warren Davidson. He said that bitcoin cannot be checked. “

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Governments and digital currencies

In addition to Libra, Carter also spoke about governments and Central Bank Digital Currencies. The meaning is already in the name, digital currency issued by a central bank. What does Carter think of this?

“Currencies will be digital, because that fits with the objective of governments. They want to be able to follow every transaction. Moreover, you cannot calculate a negative interest rate on physical money. Governments want total control over the economy by controlling the money supply. “

Yet a real digital dollar or euro can take a while:

“Such a thing would be the end of commercial banks. And these banks have a kind of monopoly, and powerful lobbyists. So I doubt that a digital dollar is coming soon. “