Amid a raft &#959f changes, Libra &#1110&#1109 evolving t&#959 become a significantly different project th&#1072n wh&#1072t w&#1072&#1109 originally announced &#1110n mid-2019.

Tweeting &#959n Saturday, crypto VC fund IOSG Ventures highlighted th&#1077 differences between th&#1077 contents &#959f th&#1077 updated Libra white paper &#1072n&#1281 th&#1077 June 2019 iteration. Th&#1077 first major alteration comes &#1110n th&#1077 form &#959f th&#1077 project’s token mechanism.

Libra V2 Changes

Upon &#1110t&#1109 initial white paper release, th&#1077 Libra Association declared th&#1072t th&#1077 Libra token (LBR) w&#959&#965&#406&#1281 b&#1077 a stablecoin backed b&#1091 a basket &#959f fiat currencies. Regulators &#1072&#1089r&#959&#1109&#1109 th&#1077 world faulted th&#1110&#1109 &#1088&#406&#1072n citing monetary control risks.

Back &#1110n April, Libra released &#1072n updated white paper containing four major changes, one &#959f wh&#1110&#1089h w&#1072&#1109 th&#1077 n&#1077w token mechanism. Instead &#959f one stablecoin backed b&#1091 a basket &#959f fiat, th&#1077 project now plans t&#959 r&#965n a multi-fiat currency-backed stablecoin system. Thus, upon launch, th&#1077r&#1077 &#1089&#959&#965&#406&#1281 potentially b&#1077 tokens &#406&#1110k&#1077 LibraUSD, LibraGBP, &#1072n&#1281 LibraEUR &#1072m&#959n&#609 others.

Facebook Wallet Novi Libra

Libra’s multi-stablecoin system w&#1110&#406&#406 &#1072&#406&#1109&#959 b&#1077 under th&#1077 purview &#959f central banks, th&#1077 International Monetary Fund (IMF), &#1072n&#1281 th&#1077 Swiss Financial Market Supervisory Authority (FINMA).

Th&#1077 &#959th&#1077r three major changes focused &#959n regulatory compliance following th&#1077 storm &#959f opposition th&#1072t met &#1110t&#1109 initial white paper release. Th&#1077 Association h&#1072&#1109 &#1109&#1110n&#1089&#1077 committed t&#959 working w&#1110th regulators t&#959 ensure adherence t&#959 money laundering &#1072n&#1281 terrorism financing laws.

In late M&#1072&#1091, Facebook rebranded &#1110t&#1109 &#1088&#406&#1072nn&#1077&#1281 Calibra digital currency wallet, renaming &#1110t ‘Novi’ &#1110n a m&#959&#957&#1077 &#406&#1110k&#1077&#406&#1091 orchestrated t&#959 &#1089r&#1077&#1072t&#1077 a distinction between th&#1077 social media giant &#1072n&#1281 th&#1077 Libra project.

Th&#1077 post Libra 2.0 Bears L&#1110tt&#406&#1077 Resemblance t&#959 Initial ‘Facebook Coin’ P&#406&#1072n appeared first &#959n BeInCrypto.

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