Breaking News: Facebook's Libra project releases updated whitepaper with significant changes

On the evening of the 16th Taiwan time, David Marcus, the head of the Libra project, released the latest white paper for Facebook's stablecoin project, Libra. The content presented by David Marcus is as follows (translated by ChainNews, please refer to the original text for any ambiguities):

On the evening of the 16th, Taiwan time, David Marcus, the head of the Libra project, released the latest white paper for Facebook's stablecoin project Libra. The content shared by David Marcus is as follows (translated, please refer to the original text for any doubts):

"I am excited about the progress of Libra over the past 9 months. I have been thinking about how to make all individuals and small businesses benefit from the operational Libra network. Especially in these unprecedented challenging times. Now, the Libra Association is funded by its members (with less than 10% of the funds coming from Facebook) and has adjusted its plans after working with key stakeholders globally."

"The most notable developments in the Libra project are:

a) Creating stablecoins pegged to a single currency, such as LiUSD, ≋EUR, ≋GBP, and Libra Coin (≋LBR), which will now be 'collateralized' by Move smart contracts with fixed weighted stablecoins."

"b) A comprehensive network system for Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and enforcement."

"c) Transitioning the original plans gradually to a permissionless governance model, evolving into a market-driven open competitive network."

"d) Even in the most adverse circumstances, stronger consumer protections will be integrated into the design of the Libra reserve to safeguard consumers."

"Since we first announced the Libra project in June, another significant change has occurred, which is how members of the Libra Association have taken significant steps forward. It's exciting to see this organization start to operate and enhance its independence."

"We will work together, continue to strive, to make it as easy as sending a text message for people and businesses to send and receive funds globally, with much lower costs. However, for now, this is the latest white paper and overview of Libra: White Paper Link'