I also suspect that the various Security Commissions will not be happy about this decision.
Conclusion
In conclusion, the Libra announcement can be classified as a good marketing move with no
great technical innovation. As with any other design without a lot of added value, I suspect it will be profitable to Facebook only as a public relation initiative.
Of course, I could be completely wrong. In which unlikely case Libra may become a
competitive player in the permissioned arena and, if their gradual decentralization objectives are achieved, it may become another player in first generation, leader-based, “unpermissioned” crypto-networks. A proposition that may create some urgency for government regulators, but still nothing to shout about, from the technical point of view.
Giuseppe Gor is CEO of Gorbyte, which is developing a blockchain crypto-network that is unpermissioned, and uses a cooperative consensus mechanism that requires no miners/verifiers.
The Gorbyte consensus allows for no-cost basic transactions anywhere in the world. It also provides for a Distributed Operating Environment for blockchain applications requiring high throughput and large data transfer capability.