The expected launch of Facebook’s Libra Coin and the widespread statement credited to in-house sources on the release of the digital currency’s white paper are creating panic in the cryptocurrency space.
As contained in several unconfirmed updates, Facebook’s Coin is going to be seeing supports from the likes of PayPal, Uber, Visa, and some other reputable companies who have turned down adopting Bitcoin, Ripple’s XRP and all other digital currencies.
In fact these companies have been rumoured to have pledged huge amount in financing the digital currency. Some have also said governments across the world are going to be banking on Facebook’s GlobalCoin dubbed Libra.
As this rumour becomes widespread, some have posited that the launch of Facebook Libra coin will do the cryptocurrency space a great service that won’t be forgotten in history, rather than posing threat.
Some have as well seen the possibility of the digital currency killing Bitcoin, Ripple’s XRP and a host of other digital currencies in a twinkle of an eye or at least in less than 5 years.
Meanwhile, a respected crypto experts and a gold maximalist have bet on the (im)possibilities of Facebook’s Libra coin dethroning Bitcoin.
While there is no saying it is impossible, those who are pitching their strength at the back of Ripple’s XRP do not think Facebook’s Libra coin will do XRP any arm.
They are indeed sure that if Facebook’s coin is going to compete with any digital currency, is definitely going to be Bitcoin.
Digital Asset Investor Sees Ripple’s XRP Bridging the gap Between Facebook Coin, JPM Coin
A popular Youtuber by the name Digital Asset Investor has said Ripple’s XRP is going to bridge the gap between Facebook’s Libra Coin, Bitcoin and some other digital currencies.
The Youtuber said Facebook’s GlobalCoin, which is going to be a StableCoin most likely tied to a basket of fiats is going to be the one of the best things that ever happened to the entire crypto space.
Speaking further, Digital Asset Investor said Ripple’s XRP has its own use case and Ripple has been working on this for the past 6 years. He said XRP is used as a bridge asset and for on-demand liquidity.
He maintained that there are going to be different walled gardens like the central bank’s digital asset or a bank digital asset like JPM Coin or Facebook Coin, however, he said XRP, considering that it has more volume, is going to bridging the gaps between this digital assets.
You can watch his video here:
Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.