The wave of Bitcoin is supposed to be the underlying factor behind the emergence of new digital financial technology, worldwide. The success generated people to buy cryptocurrency in India, which initially got banned by RBI. However, the ban was lifted off by the apex court of India and it gave cryptocurrencies a welcome sign for establishing itself. Now since Bitcoin is the foremost cryptocurrency which everyone would love to make it as an investible asset. Besides this, there are many altcoins, including Litecoin, Ethereum, Monero, Neo which have also generated interest among the investors and crypto lovers. But apart from all these coins, there is a new cryptocurrency called Libra, a launchpad of Facebook has stirred much interest. The question now arises is whether this stablecoin could become an investible asset in the future.
The main mission behind the launching of Libra is to make it a worldwide currency for serving the underbanked in countries that are developing. Besides this, the idea also lies in the role of transferring funds across the globe at minimal cost through the access of internet access and mobile phone. There is also a provision of translation of cryptocurrency into real currency on receipt. According to NextHash, chief marketing officer, Libra can truly become an investible asset as it comprises more scalability with processing maximum payments (about 1000) per second. It fares much better than Bitcoin in terms of capacity. Libra will also be featuring its reserve much akin to central banks. It will be efficient enough in creating or demolishing value units.
Now it all depends upon the future output whether Libra will become a well-known investing asset or not. In the current context, it is yet not an investible asset. The launch of Libra happened when Bitcoin was losing its momentum in the market cap. The market shares of this ruling cryptocurrency had steeped downward to a mere 53 percent from 38 percent in the year 2015. This has been linked to the fact when there was an emergence of more and more cryptocurrencies in the year 2014.
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