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Madrid
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2019
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Carlos Santaella

Carlos Santaella

CEO at FIDE PBC Europe
Posts: 0 Comments: 3
Career History Merchandising,Trading , IT , Payments

Carlos is Commenting on

Fed governor warns of 'core' regulatory challenges facing Libra

  It's clear to me that the massive political volatility that the US dollar inflicts on world trade's GDPs (specially nowadays), creating extensive currency swings and losses to heavily export trading dependent countries - like India and Germany- is asking/demanding for the introduction of a counter balance tool to the hegemonic political forces of the US dollar. Hence, I can see more chances for central bankers to launch their own digital-currencies down the road, pegged to FIAT notes, maybe even utilizing RTP channels and or DLT newly developed pipes. Nevertheless, it is pristine clear what Governor Brainard's is saying about the side-effects of massively launching a stablecoin currencies -as LIBRA- without the proper vetting of the entities controlling and regulating our global, heavily inter-connected, financial system. Also it is now more clearly for me why financial non-banking global behemoths, like VISA, MasterCard and PayPal initially supported this extremely "bold" concept from Facebook. If Governor Brainard’s statements are true (and I agreed completely with her assessments), then, it seems than these large payment players were betting to benefit from the potential diminishing role of private and central bankers because of LIBRA expansion, and where its backers where going to harvest the benefits of replacing these millennial institutions with their own digital portfolios. Something else was baffling me from the very beginning of LIBRA, why only American base companies where backing this global initiative? Where were the Europeans and or Asians?