> Yes, it would. Again FB will have just 1% of the control at launch.
But wouldn't FB be running/in control of the most of the infrastructure behind Libra? The stability of the currency would be dependent on FB providing the core services behind Libra. Having "just 1% of the control" doesn't matter if FB can just shut it down and/or destabilize it's value at will. It's FB actually intends for it to be an open cryptocurrency then why make a new one when we already have several options available other than being able to exert control over it?