According to Xavier Niel, French Tech billionaire, “Libra will exist… whether governments want it or not”
This is what he said in an interesting post in the newspaper Les Echos entitled «Européens, Libra nous de choisir !» “Europeans, Libra is up to us to choose!”
Let’s first remind that Iliad is part of the Libra Association from which PayPal announced its withdrawal recently.
In this post, Xavier Niel highlights the positive aspects of the arrival of the Facebook cryptocurrency, Libra.
The arrival of this digital currency is feared by many governments who have even expressed their total opposition to the launch of this new cryptocurrency.
France went as far as to declare that Libra is not welcome on European soil!
Xavier Niel, famous French entrepreneur, known for breaking the monopoly of France Telecom in the internet sector thanks to the launch of the famous internet provider FREE.
The founder of Free and Iliad takes his pen to highlight the benefits that could bring Libra that many countries and regulators fear for their national currency.
He first highlights the simple fact that Libra will exist just like the thousands of other cryptocurrencies that already exist on the market.
Libra which should be a stablecoin just like Tether USDT, BUSD, TUSD, etc…
Therefore, as he indicates, nothing can theoretically prohibit a private company from creating a new stablecoin, Libra in this case.
“Libra will exist like the 1,600 other virtual currencies already available in France, it is inevitable, with or without us, that the states wish it or not,” as he says in his platform.
To be afraid of it will not prevent its arrival and therefore it is better to accompany its launch than to try to prohibit it.
For Xavier Niel, Libra is not a threat to existing national currencies because it relies on these currencies precisely.
He calls Libra a proxy-currency, a system that would be more stable in the end because it can serve as a safe haven in case of instability.
He also advocates a key element that is the speed and ease of transactions between people, which is the primary role of any cryptocurrency. Pay or receive money in minutes.
He also talks about the main target of Libra, the unbanked population who does not have access to a bank account and payment cards type Visa or Mastercard.
31% of the world’s population would be unbanked, so Libra would aim to help these populations to easily make payments or receive money in P2P quickly.
And that without border or bank constraints.
Mark Zuckerberg has said several times that countries like India are key markets for Libra.
Finally, he evokes the interest for companies and entrepreneurs who could access new customers by using this cryptocurrency that would be accessible worldwide and by the unbanked population.
Selling products or services with Libra as a means of payment, even to the billions of users of Facebook, Whatsapp worldwide.
For Xavier Niel, Libra is therefore a chance and not a danger for the future.
Undeniable positive aspects that Libra representatives will have to defend before the regulators of many countries.
Mark Zuckerberg who is currently focused on the launch of Libra for 2020.
