Some bet everything on their next release, while some say it can never cease to be a more or less quixotic idea. But the truth is that, if something can be said about the future of Libra, the virtual currency of Facebook, is that it is uncertain. What does not seem to have mattered to the Canadian giant of electronic commerce, Shopify, which has announced its entry into the Libra Association.
The earthquake in Libra
Within the crypto world, there have been a series of events that have marked all the members of the community. Representing a before and after for cryptocurrencies and for Blockchain technology in general. Finding the launch of Tether, the creation of Ethereum, and the bullish rally of 2017 between these stellar moments of cryptoactives.
However, it is difficult to find an event that had a greater influence on the entire cryptocurrency ecosystem, than the announcement of the virtual currency of Facebook, Libra, in the middle of last year. A fact that fundamentally changed the way the governments of the planet see the crypto world.
And, although from its birth currencies like Bitcoin expressed their intention to face directly the monopoly of the states on money. So far, governments had not seen in the attempts of cryptocurrencies to consolidate, a serious threat to their power.
Something that they could feel with the announcement of the future release of Libra. Well, having created this virtual currency by one of the most powerful companies in the world. Also supported by about thirty of the most powerful companies in the world. The States saw in this digital asset a possible competitor to their control over the money market.
So, immediately alarms have sounded in virtually all governments, which have announced that they will not allow the entry and use of Libra into their territory. Or they have made enormous efforts to start or accelerate programs, to create their own virtual government currencies with which to compete with Libra.
Shopify bets on Libra
This little receptive attitude on the part of the majority of the governments of the world, led several of Facebook’s partners in this adventure, gathered in the Libra Association, to decide to leave the ship. Being companies like Visa, Mastercard and Paypal some of the most outstanding cases of this process of disintegration of the association.
Despite this, Facebook does not give up its efforts to launch its virtual currency. For what he has managed to recruit new partners like Shopify. That they can replace those companies that have decided to leave the association. And provide greater weight to the struggle to get Libra accepted by world governments.
In the case of Shopify, the Canadian e-commerce giant has declared that it enters the Libra Association, to continue its efforts to improve the execution of cross-border payments. Collaborating in the commissioning of the payment system of Libra.
«Our mission is to make trade better for everyone, and for this we spend a lot of time thinking about how to improve trade in parts of the world where money and banking could be much better. That is why we decided to become members of the Libra Association. This is a step, but not the only one we will take to be part of the solution to this global problem.«, Shopify commented on his entry into the association.
The entrance of Shopify to the group of companies that still bet on Libra. It would be an important message for governments around the world, by showing them that there are still important companies interested in working for Libra. And that, therefore, it is not a good idea to give up this coin for dead, still keeping some tricks up its sleeve.
International Studies student, interested in economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.