How does Libra work? It sounds more like a traditional currency, except it isn't issued by a nation, but by a bunch of companies. The peg to a basket of currencies suggests that it'll operate like a currency board regime. Do they completely give up monetary independence by backing every Libra with a dollar in reserve (or a basket of currencies)? Or is the plan to make Libra eventually float and have some decentralised mechanism to set interest rates?