> Fortunately for the rest of the world, Libra may well fail. People prefer assets that hold their value relative to either the local currency or, in an unstabl

> Fortunately for the rest of the world, Libra may well fail. People prefer assets that hold their value relative to either the local currency or, in an unstable situation, dollars or euros. Nobody wants to receive $10 from a friend only to have it turn into $9.80. But since Libra pegged is to a basket of currencies, it is not actually stable. Like other cryptocurrencies, every Libra transaction thus involves exchange rate risk, and the only way Libra can succeed is if Facebook makes a concerted effort to force its adoption.