The Swiss Federal Council continues to monitor new digital technology developments such as blockchain, stablecoins and distributed ledger technology.
Libra is a global digital cryptocurrency created by the Facebook team and governed by Libra Association, independent, non-profit membership organization. The founding members of the association include Mastercard, PayPal, Visa, Booking Holdings, eBay, Facebook, Uber, Spotify, Vodafone, Coinbase, Xapo, and other well-known companies. Libra blockchain is using the Move programming language and the Byzantine Fault Tolerant (BFT) consensus. Each Libra unit will be provided with several currencies, bank deposits, and securities, which will form the Libra Reserve. This will provide low volatility. However, the token would not be tied with any fiat currency. Users will be able to send coins with Calibra wallet, as a single app or as a built-in extension in WhatsApp and Messenger.
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