German finance minister Olaf Scholz has responded firmly to the presence of Facebook's crypto output, Libra, Reuters reported on September 17, 2019. img/ coinone.co.id

The German Finance Minister Respond Decisively to Libra Presence

In a panel discussion held in Berlin, Olaf Scholz openly rejected the presence of Stablecoin like Libra, "We cannot accept parallel currencies," as quoted by Reuters. then

According to the order document seen by Reuters, stablecoin will not be an alternative to fiat currencies because Germany along with European and international countries will reject it.

The rejection made by the German Minister of Finance is not something new for this Facebook output stablecoin, Western European countries like France are also calling for the same thing, the French government is worried that Libra can bring "monetary sovereignty" to European countries, Express.co. uk

Libra is a stable coin that will run in a blockchain network that is secured by 100 distributed computer servers or nodes. To create an open and interoperable financial services ecosystem and to expand inclusion

Stablecoin is a cryptocurrency created to have a stable value based on the value of goods such as the United States dollar, gold, and others.

Strong response to Libra

In addition, the head of Libra development David Marcus also received a strong response about the crypto that wants to be released from the United States senators at a parliamentary meeting held last July.

An American Senator named Sherrod Brown started the discussion about Facebook which he considered "dangerous" and also was not worthy of trust by Americans. The scathing response that was brought up continued to offend the privacy of Facebook user data on errors that had occurred. "Facebook has shown scandal after scandal that it is not appropriate for us to believe," Brown.then said

But David Marcus denied the problem that had happened to Facebook when it was associated with political problems. He explained that Facebook had also tried to fix the problem

Marcus also opened his voice regarding the planned launch of Libra at the hearing session that the Stablecoin did not intend to replace the existing fiat currency. He will only launch Libra when the related regulations are completed and have received the green light from the authorities and regulators

Source: blog.coinone.co.id
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