RATE Group | Libra Isn’t a Cryptocurrency. It’s a Glimpse of a New Asset Class
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Libra Isn’t a Cryptocurrency. It’s a Glimpse of a New Asset Class

03 Aug Libra Isn’t a Cryptocurrency. It’s a Glimpse of a New Asset Class

Posted at 19:28h in Cryptocurrency News by

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Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The opinions expressed in this article are the author’s own.

The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for institutional investors interested in cryptoassets, with news and views on crypto infrastructure delivered every Tuesday. Sign up here.

Coming from an organization so tied to the question of identity (whether real or not), it is surprising that Facebook’s Libra coin seems confused about its own.

The organization has chosen to brand Libra “a stable global cryptocurrency,” and the label “cryptocurrency” has been replicated by media around the world. Yet Libra is not a cryptocurrency.

Don’t get me wrong – those of us in the sector appreciate the global attention given to the concept since the announcement.

But in this case the definition matters beyond semantics: it will affect eventual use cases and…

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