Reflections on Libra

I am doing a philosophical reflection blog thing. I will put a 'more' button so you can skip it.


Libra is a good idea.  It makes the best of a regulated world of encryption, it uses a block chain with few, but trusted miners. Each of the trusted  ledge opertors has added value to Libra, connecting is to Swift via currency market, or offering deposits and loans, connections to trading pits, and so forth.

It does not need pure liquidity, bearer assets, as the trusted system is short queue and quick, mostly. And there in is the debate, what happens then the Libra ledger jams up in a sudden change of terms on trade? A bunch og Libra denominated trades come to a sudden stop.  But the answer to that is an automated S/L facility, a shock absorber with fast reaction times. Like an hourly market for Libra deposits and loans run by trusted pit boss off the Libra edger.

So, yes, Libra works. And the longer we debate the currency the longer it stabilizes in our minds.  It is simply finite block chain with an inherent scofflaw queue and some enforcement.  It is finite because at some point the finite, and limited set of trusted miners will have observed all possible combinations of the past, and agreed.

Can Libra dominate? Sure, not dominate over central banking maybe, but it can be competitive with bitcoin.  It is really the only alternative, it is the currency that is stirring up the debate, so it is already being prices stabilized in our minds.