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If I'm not wrong giving a quick read to the website is like a FIAT currency, but instead of a Country Government is backed and controlled by a network of private independent (and sometime competitors) corporations. May not be a bad idea but can degenerate to a centralized currency if the controlling corporations shrink in number.

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Facebook started simple, and then started prioritising engagement(thus conflict/noise).

I wonder what would be the analog for coin. Start as a medium of exchange, then start usurping national currencies. Nations would not be able to legislate them away, as business and citizens would be conducting cross and intra border commerce using libra.

This is already centralized.

The governance and distribution is hand picked.

This

And they don't even mention the assets or government/banks chosen for backing, just "highly liquid".

So much for transparency.

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