Facebook just made an interesting move launching the Libra Coin – a stablecoin backed by “Libra Reserve”- a reserve of real assets.

It was quite a natural move to find new engines of business growth and since they already have a huge base of 2.4 billion Facebook and 1.5 billion WhatsApp users happy to pay lower transaction fees the potential seems huge. The banks have no reason to be happy, probably their clients will use Libra Coin for some transactions. Also Apple, Amazon and other giants will be tempted to follow suit. We are speaking about a market of 3 trillion $ financial value of transaction yearly, so it is place for everyone.

It is clear the the Libra Coin gave a boost to Bitcoin and other cryptocurrencies although Bitcoin has already doubled value in tha last months before the Facebook announcement. What is more interesting is the fact that Libra Cin does not look to have some the characteristics of public blockchain: it is not public, not open and not decentralised, the main purpose blockchain was built for. But they have the advantage of partnerships with Visa, Mastercard, Paypal and eBay. But it is against the dream of regaining the power of money via decentralised blockchain brought by cryptocurrencies, so the tycoons seem to have finally noticed the financial revolution started without them even noticing yet which is still at the beginning.