Despite the pessimistic position of Facebook regarding the prospects of the Libra cryptocurrency , the company's actions are contrary to its words. The social network has attracted a large company to promote the Calibra project in the US legislative field.
FS Vector will be engaged in lobbying for cryptocurrency , which is focused precisely on the field of finance and fintech. What will be the work of the company: the company's task will be a constant dialogue with regulators, upholding the interests of Libra and convincing the authorities that the project has the right to exist under the current legislation. In other words, the task of the company is to mitigate the negative mood of the US authorities, which formed immediately after the announcement of the project.
The only question is how FS Vector will achieve this goal. If you look at the whole situation on a larger scale, it becomes obvious – the United States itself is interested in the launch and success of Libra like no other. Why? It's simple: this cryptocurrency is an advanced and perfect tool for controlling the finances of citizens. Moreover, given the global nature of the project, in the hands of the US government will be able to control the financial activities of residents of most countries of the world.
After all this, the question arises – is this whole story with the prohibition and fears of regulators a simple spectacle, the outcome of which has already been decided at the top? Nevertheless, this performance is necessary in order to convince the users themselves that the project can and should be trusted.
There is another interesting fact in the new Facebook partnership. One of the management positions at FS Vector is held by John Collins, a former Coinbase Policy Manager . It will be he who will lead the company’s work with Libra: the expected solution, given the useful experience of Collins.
However, the benefits of lobbying also come into question for one reason. Previously, Facebook has already attracted five such companies, and they could not achieve the location of the regulators. Nevertheless, it is worth taking into account the duration of their work and accept the fact that it can take almost years to promote ideas of this scale. Let's hope that in the end we will see fruitful results, because the success of Libra is important to us for one reason – this will significantly advance other cryptocurrencies forward.
Publication date 08/28/2019
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