[Report] Libra: the race for a global currency is on, uncertainty is high
Cindicator, a fintech company developing Hybrid Intelligence for asset management, today releases a report about analyst views on Libra, a cryptocurrency announced by Facebook. The report is the first evaluation of cryptocurrency market sentiment towards Libra.
The survey of Cindicator’s users suggests that crypto analysts are almost equally split between those who plan to use Libra (45%) and those would avoid it (48%). The most common reasons for avoiding it are centralisation (31%), a lack of trust in Facebook (29%), and general privacy concerns (11%). The most widely cited reason to use Libra is that it is likely to get mass adoption (14%).
Over 75% of respondents believe that another big company is likely to announce its own cryptocurrency. 24% of analysts think that no enterprises will make such an announcement at least before the end of the year. Analysts cited Amazon (22%), Google (14%), Apple (10%), Walmart (8.5%), and Microsoft (6.6%) as the most likely candidates.
The full 18-page report reviews:
- Technical capabilities, limitations, and privacy issues;
- Libra Association’s structure and financials;
- Regulatory reactions around the world;
- The impact on the crypto market;
- Libra’s competitors: Telegram’s TON, China’s central bank digital currency, Binance’s Venus, TAP on MakerDAO, and potential new entrants.
Yuri Lobyntsev, Co-founder and CTO of Cindicator, said:
“We see that trust is the biggest issue for Libra. I think Mark Zuckerberg will get flak from everybody, including regulators and investors. He’d have to go through fire and water to keep control over his position at Facebook. If he withstands this heat and secures Libra on idealistic principles, this will be a revolution and the largest monopoly on the planet.”
About Cindicator
Cindicator is a fintech company that has been developing its Hybrid Intelligence platform since 2015. Over 140,000 highly motivated decentralised analysts are registered on the platform.
Collective forecasts on global and digital markets are collected and enhanced with 30+ machine-learning models and a neural network. As a result of this symbiosis of humans and AI, Cindicator creates valuable trading indicators, predictive analytics and sentiments that improve investment decision-making amid high uncertainty for traders and investors.
To identify new investment opportunities and create relevant questions and indicators, Cindicator’s internal team of financial analysts and quant researchers is continuously exploring the market environment. While Cindicator’s analytical products are available exclusively to CND token holders, we share some of our research with a wider audience to increase public awareness of the prediction capabilities of Hybrid Intelligence.
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