Only 4% of respondents said they trust large companies like Facebook, Apple or Amazon more than central banks. On the contrary, 64% said they trust central banks more than large companies

With the controversy generated by the new method of payment Libra, which was developed by the social media giant Facebook, some users, analysts and government representatives from different countries have shown themselves in favor and others, mostly, against the future launch of this digital asset.

In this sense, a German financial association conducted a survey to know the opinion of some citizens. The study was conducted on 2,093 German adults. The results show that about 71% of the interviewed distrust the stability of Libra, due to the recent news around that cryptoactive. According to the studies, most Germans are skeptical about the stability of Libra.

The survey was published by the German Financial Association Bürgerbewegung Finanzwende. The survey revealed that only 12% of respondents actually accept Libra; whilst 17% said they were not sure what to think about stablecoins.

In the other hand, 52% of respondents said that the impact of Facebook on society is already problematic today, and more than 26% said they believe that the growth of Facebook in more fields would increase “even more its negative influence.

These opinions collected through the survey show that there are two problems that Libra must face: the first one is the common distrust that users can have on any digital asset; and the second one, the little confidence that the German people have towards Facebook, the main investor of the token.

A Possible Bad Influence

Citizens also opined regarding the influence of Facebook in German society and in all the society in general. In this way, 78% of respondents believe that the influence of the social media giant is negative; 15% of the people consulted said they did not have an opinion about this point, whilst only 7% believe that Facebook does not cause problems in society.

A similar and curious fact is that when only the German Facebook users were asked for their opinion about Libra, the pollsters discovered that 68% of users were skeptical about Libra, about 18% still did not have an opinion respect it, and nothing more than 14% welcomed its development.

In another part of the survey, participants were asked their opinion about whether they would feel more confident of trusting a digital asset issued by large corporations such as Facebook.

In response to this question, only 4% of respondents said they trust large companies like Facebook, Apple or Amazon more than central banks. However, 64% said they trust central banks more than large companies, whilst 10% trust both equally, and 22% does not have a clear opinion about it.

Little Certainty about Libra’s Future

In response to these results, the Bürgerbewegung Finanzwende association asked the European Commission and the European Central Bank to mediate with the aim to stop the development of Libra. The European non-governmental organization Finance Watch also participated in this request.

Despite the statements by different sectors of the United States, The United Kingdom and even Russia, nothing ensures that the development of the digital currency will stop or not until now.

Recently, the Head of the Central Bank of Germany spoke favorably about Libra. In fact, Libra´s Co-creator David Marcus talked at the US Congress about the project. He answered some questions, something that was demanded by senators last June. The expectation around Libra continues with the passing of days.

By María Rodríguez


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