Libra's Demise: Politics vs. Technology

The text discusses the failed launch of Facebook's Libra cryptocurrency project. Enrique Dans analyzes the situation, arguing that the project's cancellation, driven by political concerns and fears regarding Facebook's power, was ultimately a positive outcome, preventing potential global harm. Dans contrasts the perspective of David Marcus, a key figure in the Libra project, who views the cancellation as a setback stemming from political intimidation rather than legitimate concerns about the technology itself.  The core disagreement centers on whether the potential risks of Facebook controlling a global stablecoin outweighed the project's technological merits. Dans contends that the risks were significantly greater and that preventing Facebook's unchecked expansion of power was justified. This article is also available in English on my Medium page, «The Libra project: sometimes our politicians do act in our best interests«