If Libra does become a dominant currency, then I think it's monetary policy is actually the least impactful/most stabilizing one you could ask for. From https:/

If Libra does become a dominant currency, then I think it's monetary policy is actually the least impactful/most stabilizing one you could ask for. From https://libra.org/en-US/about-currency-reserve/ https://libra.org/en-US/about-currency-reserve/ : * Libra is "fully backed" by "a collection of low-volatility assets, including bank deposits and government securities in currencies from stable and reputable central banks" * "for new Libra coins to be created, there must be an equivalent purchase of Libra for fiat and transfer of that fiat to the reserve. Hence, the reserve will grow as users’ demand for Libra increases. In short, on both the investor and user side, there is only one way to create more Libra — by purchasing more Libra for fiat and growing the reserve." * "The association does not set monetary policy. It mints and burns coins only in response to demand from authorized resellers. Users do not need to worry about the association introducing inflation into the system or debasing the currency. For new coins to be minted, there must be a commensurate payment of fiat by resellers into the reserve. Through interaction with authorized resellers, the association automatically mints new coins when demand increases and destroys them when the demand contracts. Because the reserve will not be actively managed, any appreciation or depreciation in the value of the Libra will come solely as a result of FX market movements." Any changes to this require a supermajority vote by the association's council. Each member has one vote, the association is established as a Swiss non-profit. As to control of processing and monetary flow, I think it'll just reflect/perpetuate current power structures, but considering that Libra will make it easier for people to access/exchange competing coins (fiat or crypto), I don't see why it'll have less market pressure to function (as a medium of exchange) than any other currency.