According to Prof. Volker Wieland, Facebook's planned cryptocurrency Libra is not appropriate to fulfill the functions of money in an adequate way. In his opinion, it is unclear who will guarantee that users can change big amounts of Libra into national currencies at any time without depreciation, he said in an interview with the financial daily "Handelsblatt".
Therefore, Libra might not fulfill the criteria of money as a store of value, Wieland argued. However, the high number of users facilitates the use of Libra, he said. According to Wieland, this the biggest advantage of the cryptocurrency.
Handelsblatt: "Wie gefährlich ist Facebooks Libra?"