Forbes president: Libra eclipses bitcoin and replaces US dollar

Steve Forbes, editor-in-chief and head of Forbes Media, supported Libra's cryptocurrency project from Facebook, suggesting that the new coin could replace the US dollar as a world currency and “overshadow Bitcoin”. He wrote about this in an open letter to the head of the world's largest social network Mark Zuckerberg.

In particular, Steve Forbes said that although the idea of creating a company’s own currency is not new, Facebook’s cryptocurrency project has every chance of success.

“If you play your card with Libra correctly, you can become Henry Ford of the finance world. Your new currency could be on a par with the invention of coins and paper money many centuries ago. It could replace the US dollar as a world currency, ”the president of Forbes Media turned to Zuckerberg.

At the same time, Forbes criticized most of the existing cryptocurrencies for their high volatility:

“No one in their right mind will make a contract for more than 24 hours in Bitcoins. Cryptocurrency today is enough to buy steak, and tomorrow only dog food. ”

He also gave Zuckerberg some tips regarding the development of Libra. In particular, Forbes advised to provide the coin not only with a basket of currencies, but also with gold.

The head of Forbes also urged the founder of Facebook not to respond to criticism of regulators , but also to “not be shy” and rename Libra as “brand.”

“A gold-stamped brand will revolutionize the history of money. It will eclipse Bitcoin and will easily collect “likes” of billions of companies and people from now on and on forever, ”Forbes concluded.

It is worth noting that Mark Zuckerberg himself, who rarely speaks about his company's cryptocurrency project, also commented on his perspectives.

A to the listen of Take what @facebook founder the Mark Zuckerberg just Said about the launch of the new the Libra cryptocurrency $ FB #Libracoin pic.twitter.com/2cEfp9f27v

– CNBC's Fast Money (@CNBCFastMoney) June 26, 2019

In particular, Zuckerberg tried to dispel the fears of many about the centralization of Libra, as well as the fact that Facebook is developing this digital currency – a company with which several loud scandals about the confidentiality of user data are associated.

“Creating a financial system is not something that we can accomplish on our own. Therefore, our role was in the process of laying the foundations. However, the Libra Association is an independent organization in which we will have only one vote. Hopefully, by the time we launch, we will be able to gather 100 co-founders, ”said the founder of Facebook.

We will remind, earlier in the media there was information that the partners of Libra began to doubt the project due to regulatory uncertainty.

Subscribe to BlockchainJournal on YouTube !