This House Believes that the widespread adoption of Libra brings more harm than good.
Libra is a proposed cryptocurrency administered by a consortium of tech companies led by Facebook.
Libra's value is pegged to a basket of global currencies, predominantly the US dollar, Euro and yen.
The Libra consortium will hold a reserve in standard currencies (Dollar, Euro, Yen, etc) equal to the total value of all Libra in circulation. This means the only way to grow the supply of Libra is to purchase more of it with standard currency, which would then be placed in the reserve.
Round #4 /
Nov 9, 2019