Libra: Shaping the evolution of financial infrastructure has been saved
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Libra: Shaping the evolution of financial infrastructure
A bold new proposition
Despite its advancements, the existing financial infrastructure seems to remain a constraint in an increasingly quickening global ecosystem in which information travels faster, work is increasingly virtual, and geographical borders are fading away. Such may be true because today’s existing financial system remains an artifact of decades of careful evolution, where traditional infrastructure intermediaries, transaction delays and fees are optimized, without really breaking through structural limitations.
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- What is Libra?
- What differentiates Libra?
- The larger Libra ecosystem
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While other kinds of innovative undertakings in the payments space have emerged in the past with varying levels of success, to date, none have reached the scale and transparency that the Libra project proposes. So, what distinguishes such a bold new proposition as Libra that would make success possible on a global scale? One of the biggest differentiators, although not the only one, is the Libra Association—the initiative’s governing body. Under the Libra association charter, the Libra Association will manage the Reserve as well as guide the technology roadmap (initially a permissioned blockchain network) on which this new digital asset is expected to be based.
The collective stature of the association members should offer the Libra initiative unprecedented scale and reach, and the kind of strong brand equity and financial commitment that may engender trust among the user communities.
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