Libra currently looks more like a fiat currency than a cryptocurrency

Facebook unveiled a cryptocurrency called Libra yesterday, as well as the Libra Association, a not-for-profit that will oversee all things Libra. While Libra’s white paper draws a lot of inspiration from other cryptocurrencies, the current governance model and blockchain implementation remind me of banks more than bitcoin. The Libra Blockchain is designed like a true blockchain, with a Byzantine Fault Tolerance approach, the use of Merkle trees to guarantee the integrity and a network of nodes.