Libra, the new crypto-currency proposed by Facebook would be a good idea if it’s regulated by a central authority and subjected to same rules & laws all other national currencies are subjected to, else, it will be dead on arrival. The world once tried unregulated fiat financial system and the results were catastrophic. In recent days, Bitcoin & other crypto-currencies proved; any currency that is not subjected to a regulatory framework is bound to fail due to market manipulation and greed. Without regulation, the creators or the holders of the currency are likely to influence the market affecting demand and resulting into unnecessary spikes. Money should be a store of value. Any currency that has unpredictable value can never be a store of value. And that is the primary reason the world financial system is based on Central Banking. * * * * * * * * * * * #libra #facecoin #facebook #cryptocurrency #bitcoin #bitcoinmining #bitcoinnews #digitalcurrency #visa #mastercard #coinbase #digitalwallet (at Mambo Microsystems Ltd) https://www.instagram.com/p/B0AXKfdhQm2/?igshid=pz2hk43wcs5f
