Dr. Mardini discussed the difference between Bitcoin and Libra. He showed how Bitcoin is struggling to become a generally accepted means of payment for small daily transactions. The Lightning Network resolves some technical limitations, but is still unable to transform Bitcoin into base money. Facebook’s Libra on the other hand, is a privately issued banknote holding bank deposits and short-term government securities as reserves. Libra does not aim to become base money, nor a replacement for national currencies, or combat inflation. It is simply a practical means of payment that will be widely accepted by a large number of corporations for daily transactions.

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