On June 18, the Libra White Paper on Facebook's Encrypted Money Project was officially released. The white paper mentions that Libra, its encrypted currency project, is defined as a stable currency and its mission is to build a simple, borderless currency and a financial infrastructure for billions of people. Libra is supported by Libra Blockchain, the Association's local smart contract block chain platform, which is dedicated to solving two problems of encrypted currency, providing banking services for global non-bank accounts and promoting low-cost fund transfers.
Libra mentioned in her project white paper that some projects attempt to undermine existing systems and bypass regulation rather than innovate in regulation and regulation to improve the effectiveness of anti-money laundering initiatives. We also believe that the only way to ensure a sustainable, safe and credible support framework for the new system is to work together with the financial sector, including regulators and experts from all sectors.
According to the chain method team analysis, its specific manifestations are as follows:
1、Libra will collaborate and innovate with the financial sector, including regulators and experts from all sectors.
2、The regulatory entity of Libar block chain and Libra reserve is the Libra Association, which is composed of multiple independent members. The Libra Association is governed by the Council of Associations, which initially consisted of global enterprises, non-profit organizations, multilateral organizations and academic institutions as founders.