It is interesting that, being a private distributed database, they could have announced support for thousands of transactions per second (tps). However, they are very cautious, announcing an initial 1,000 tps, as they are planning for a global service probably reaching much of the southern hemisphere. They also avoid comparing their network with current credit card networks and their performance, perhaps to promote the idea that their network will be decentralized and governed by an association of member companies.
However, the idea of governance by an association of trusted companies is not new. Some
crypto-networks are already functioning with that idea, notably R3, Stellar and Hyperledger.
R3 being funded by several major financial institutions, Stellar being supported among others by IBM and Deloitte, and Hyperledger with partners such as American Express, Cisco, IBM, Intel, JPMorgan and NEC.
Thus, the announcement that Calibra, a subsidiary of Facebook, is just one of the initial 28
Founding Members of the Libra Association, on one side is not comparable yet to the cited
examples, and on the other side it remains suspicious from the point of view of all those users of cryptocurrencies that do not trust any corporate or government entity.
Less Centralization
The Libra Association is not the first to confuse, intentional or not, the degree of
decentralization of governance among multiple corporate members in a permmissioned