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Binance Research Finds Libra Could Rattle Payment Sector Foundations


Binance Research Finds Libra Could Rattle Payment Sector Foundations

Binance Research dove into Libra's most recent whitepaper, surfacing with a lenghty report, in part claiming Facebook's proposed asset could significantly alter the payments world. "Libra’s envisioned global payment system could do to the payment industry what SpaceX did to the space industry: shake the foundations of a well-established sector with high entry barriers," the April 22 report said, adding: "The mere advantage of issuing widely-available programmable money would already initiate manifold efficiency gains."



Libra's outlook after a year of regulatory pushback

After releasing its initial whitepaper in June 2019, regulating bodies quickly flooded in, putting a halt on the project while conducting a number of court hearings. Libra made several changes to its plans, apparently listening to regulators, the Binance report said. In its latest whitepaper, Facebook's Libra asset positions itself as a new financial framework. "Libra’s mission is to enable a simple global currency and financial infrastructure that empowers billions of people," the whitepaper reads. Read More...

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