Binance Research took a look at Libra's recent white paper.It has a long report that claims Facebook's planned asset could make a huge change to the way individuals and companies make and accept payments. In the report, investigators found that Libra's proposed global payment system could change the payment industry in the same way that SpaceX did to the aeronautics industry. It could disrupt the foundation of a long-established sector of the economy that has a high barrier to entry.
This report was released on April 22. Also in the report was a statement about how the advantage of issuing a widely available currency that is also programmable would start a range of gains in efficiency. The outlook for Libra after a year of push-backs from regulators is looking a little better. After it released a white paper in June 2019, the regulators hurried into the scene. They put a halt to the work as they started to conduct a lot of court hearings. Libra had to make some changes to its plan of action in regards to the comments of the regulators.
In the most recent Libra white paper, it positions itself as having a new financial setup. Its mission is to enable an easy-to-use global currency. It also aims to set up a financial infrastructure that billions of people can use. One team of cryptocurrency experts noted that there are three staples to the setup. Those are Libra's blockchain, Libra's stable coins and an independent governing body called the Libra Association.
A shakeup like SpaceX could happen. SpaceX altered the aeronautics sector by hastening the speed and turnaround time for rocket transports. Libra could make a dramatic change to the sector of payments, allowing for faster turnaround and transaction times. As of right now, there are only a few payment systems available for worldwide use. Most of them have a central bank and regional scope. As a global service, Libra has more potential and reach. On the other hand, Libra still has a lot of push-back from regulators. The federal government has a few members who are anti-Libra.