Too Long; Didn't Read
The lid on the fabled "Facebook coin" project has been lifted in the middle of June. Libra may actually serve as a tipping point in the general acceptance of the idea that we don't need governments to define and administer our currency. The name evokes an ancient unit of weight, scales of justice and a somewhat clever jab at Winklevoss' Gemini, has already been written about extensively. The Libra Reserve will be managed by Libra Association, consisting of 100 global corporations and selected NGOs. The currency will be stable in fiat terms but it will inevitably be copying the inflation rate of the underlying currencies.