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Zuckerberg, with his stable coin Libra, has already missed his opportunity. Although to a large extent and not through his own fault. Advertising of this project was too powerful and as a result scared the main players of the financial world. Now stable coins of the central banks of states, such as the Chinese digitized yuan, will appear and they can surpass in popularity various private stable coins, the use of which is associated with a higher level of risk compared to stable coins of the states.
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Fed Economists Call Fears of Original Libra Stablecoin ‘Overstated’
Economists at the Federal Reserve project that Libra, the Facebook-linked stablecoin frequently targeted by lawmakers and central bankers as an economic wrecking ball, was unlikely to have lived up to its sovereign currency-killer hype.
Calling “fears of a so-called global stablecoin” “overstated” in a new report published Monday, economists Garth Baughman and Jean Flemming suggested that policymakers may have focused perhaps too acutely on a basket stablecoin’s unlikely downsides. The pair modeled a basket-backed stablecoin in a hypothetical scenario, evaluating the likely impact it would have on the economy, as well as the likelihood of its being adopted
