Your white paper seems to discard Bitcoin in favour of federated IOUs backed by centralized IOUs and administrators. Bitcoin is censorship resistant. It scales through software, not bureaucrats, law enforcement, regulation and or governments.
gr0kchain
All 5 comments
But it could be the trojan horse
mrbianchi
on 18 Jun 2019
Thats because they want censorship and total control over payments and users duh
TechniumUnlimited
on 19 Jun 2019
I agree that is a bug...
But they made as a Feature...!
uira
on 19 Jun 2019
Kixunil
on 19 Jun 2019
Unfortuantely, bitcoin's approach doesn't meet the requirement of low-volatility of this project. We think that the fiat-backed approach is a strong approach for many use cases. Given this decision we've structured the reserve to be as strong as possible:
https://libra.org/en-US/about-currency-reserve/
The reserve will be held by a geographically distributed network of custodians with investment-grade credit rating to limit counterparty risk. Safeguarding the reserve鈥檚 assets, providing high auditability and transparency, avoiding the risks of a centralized reserve, and achieving operational efficiency are the key parameters in custody selection and design.
bmaurer
on 20 Jun 2019
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Most helpful comment
Fixed by https://github.com/libra/libra/pull/83