Head of Caliber David Marcus

Head of Caliber David Marcus

Regardless of the pressure of the authorities, the Libra Association plans to launch the cryptocurrency next year.

The statement was made Friday by David Marcus, the head of Calibra, for the Swiss newspaper NZZ.
He said the goal is to launch Libra in 2020, because at the current rate it will inevitably be postponed constantly.

Marcus emphasized that in order to achieve this goal, the Libra Association will need to calm regulatory authorities and “create an appropriate regulatory environment” to ensure that Libra does not pose a threat to the financial, cyber or physical security of any nation that will have contact with the cryptocurrency.

Marcus’s statements come after he tried earlier this week to explain that the new cryptocurrency will not threaten the traditional fiat system.

Libra is intended to be a “better network that works over existing currencies” for a global audience. The cryptocurrency will be based on a “basket of strong currencies” and will not create new money.

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Used for international transfers, no payments

The head of the company Calibra also said that Libra is unlikely to become a means of payment in countries such as Switzerland, Germany or France. It will rather be used for international transfers or for settlement of very small amounts.

He believes that user acceptance may be a bigger issue than the regulatory issues.

The concerns of the authorities focused on the potential of the project to destabilize the global financial system, to interfere with the sovereign monetary policy and to harm the privacy, as well as its potential for use in money laundering. Finance ministers in France and Germany have already said they will do their best to block Libra in their countries.

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