Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Big Banks, Tech Giants, Regulators and Crypto Startups: Who Are the Libra Killers?

by Nuno Correia
September 13, 2019
in HodlX
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
HodlX Guest Post  Submit Your Post
 

Perhaps the most over-hyped crypto project to make headlines, Facebook’s Libra hasn’t even set a release date yet but has received an onslaught of praise and criticism from the crypto community and regulators alike. The rapid influence Libra has had on the blockchain ecosystem is staggering, causing established blockchain companies to rapidly accelerate their plans in order to be first to market and not let the tech behemoth’s planned foray into the space steal all the limelight, however warranted. Any such plans have yet to be nailed down and are not likely to come to fruition for the best part of a year.

Since the news broke, there has been a wave of industry announcements. Binance revealed an open blockchain project called Venus, which will focus on developing localized stablecoins on a global level while China’s central bank, the People’s Bank of China (PBoC) is reported to have fast tracked the development of its central bank-issued digital currency (CBDC) after Libra was revealed.

The youngest Bitcoin millionaire, Erik Finman similarly felt the industry aftershocks from Libra, launching crypto P2P payment app Metal Pay, which he referred to in a Twitter post as “the Libra killer”.

Regulators are human too

While the reaction from regulators was expected in the crypto space, it came about faster with Libra, as a company like Facebook stepping into the crypto space put the entire industry under the spotlight and heightened scrutiny. We actually feel this is positive as it will speed up the process of adoption and awareness towards blockchain technology.

Generally speaking, the natural human reaction to something we don’t fully understand is fear and rejection and we are simply going through that process. Think about the reaction of the guy riding his horse once he saw a car passing by for the first time. Now imagine that this guy was a horse wagon seller, the biggest one in town. The next phase is all about helping external parties to fully understand the technology and creating a legal framework to support it.

Nothing new to see here

The Libra concept is quite innovative from the standpoint of a huge company like Facebook driving it. The idea itself is something that humans have been researching for decades and was first widely adopted through Bitcoin, so nothing new here. There are still many issues to be addressed if we were to use a cryptocurrency as legal tender and a means of exchange. It is only a matter of time before a decentralized currency – whether a currency issued by Libra or a currency issued by a central bank – will be widely adopted. Which cryptocurrency will eventually achieve mainstream adoption? It’s simply too early to tell.


Nuno Correia
Founder & CEO of UTRUST, the leading cryptocurrency payment solution

 
Check Latest Headlines on HodlX


Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,872.00
$49,872.00
0.81%
Ethereum
$1,566.14
$1,566.14
0.4%
Binance Coin
$243.89
$243.89
1.51%
Polkadot
$37.06
$37.06
0.96%
Cardano
$1.21
$1.21
2.48%
XRP
$0.447196
$0.447196
0.53%
ADVERTISEMENT

Spotlight

  • Blockstream CEO Says Institutional Investors Buying the Dip After Square’s $170,000,000 Bitcoin Purchase
    February 24, 2021
  • Is Coinbase Preparing To Launch Its Own Crypto Asset? New Document Hints at New Token
    February 28, 2021
  • Crypto Project Backed by Billionaire Tim Draper Shutting Down Amid Scrutiny From SEC
    February 25, 2021
  • Bitcoin Bottom Hit or More Pain Incoming? Top Crypto Analyst Traces BTC Path Through March
    March 1, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.