And similar to e-money, Libra will be distributed to end users electronically in exchange for funds denominated in fiat currencies. But there are some notable differences that are extremely concerning. Libra’s ecosystem is not only complex, it is actually cartel-like.
To begin with, Libra coins will be issued by the Libra Association – a group of global players in the fields of payments, technology, e commerce and telecommunications. The Libra Association will control the Libra blockchain and collect the digital money equivalent of seignorage income on Libra.