The Long Strange Journey of Facebook's Libra Project
The Breakdown
00:00
The Libra Project Was Not a Facebook Project, but a Basket of Currencies That Could Float on Its Own.
Libra was a project of the libra association, an association that had members such as visa stripe and papa mikado pago. The leber would have been backed by a basket of currencies that could free float against one another. This approach is similar to john maynard keane's original proposal for a global reserve currency - he said it should not be tied to any one nation but instead support multiple nations. But i don't believe that idea of a basket of currencys based free, floating global settlement currency has fully gone away.
Play episode from 02:14
Transcript
