Rise of libra was quite typical for last year, and the Facebook digital currency was supposed to cause revolution in global financial system. Yet, so far it seems rather as infamous ending. Could libra experience revival?
According to Richie Hecker, New York investment banker, the era of libra is not over yet. However, there are at least three conditions to be fulfilled so that libra can return to its popularity. Hecker suggests that libra conjoins with any other frequently used currency, for example American dollar. Then, libra could become a trustful currency almost anywhere. Such connection could solve regulatory requirements imposed on currencies.
Following step would be centralization of libra administration. Such step should disable trading in gray economy. Centralized and unified database needs to be set up to enable tracking of each transactions.
A final step consists in application setup leading to creation of transactional network which could protect current payment system. Such process is no complicated task neither technically nor regarding regulatory requirements.