Survey Highlights Skepticism about Libra
Recent findings from a survey conducted by Bürgerbewegung Finanzwende reveal that a whopping 71% of German citizens are skeptical regarding Facebook’s proposed Libra stablecoin. As much as we adore our keyboards and the internet, it seems that Germans are not warming up to the idea of a big tech company dipping its toes into financial waters. Only 12% of participants voiced a welcome attitude towards Libra.
Opinions Are in Abundance
Almost everyone surveyed had an opinion—only 17% replied with a shrug of uncertainty. With 2,093 participants, the survey showcased a robust engagement with the topic. Notably, a significant 52% of respondents indicated that they perceive Facebook’s societal impact as already problematic, and 26% feared the company’s growth would exacerbate its negative influence.
Facebook: The Unpopular Kid
It appears Facebook is not the prom queen of social media in Germany. A staggering 78% of responders view the company’s influence negatively! Only 15% remained indifferent, while a mere 7% believed Facebook has a net positive impact on society. When it comes to issuing currency, trust in big corporations is non-existent: only 4% demonstrated faith in brands like Facebook over central banks.
Trusting the Central Banks
Speaking of central banks, about 64% stated they trust these institutions more than tech giants for currency issuance. On the other hand, 10% hold an equal trust in both, and 22% were left scratching their heads without a clear answer. The research reveals a glaring divide between traditional financial entities and modern-day tech behemoths.
Libra Users Show Doubt
Interestingly, among Facebook users, skepticism remains high with 68% expressing doubts about Libra’s potential. Only 14% welcomed the idea, while around 18% found themselves sitting on the fence, uncertain about their stance.
Calls for a Ban
Bürgerbewegung Finanzwende didn’t stop with the survey—they are pushing for action. They are rallying both the European Commission and the European Central Bank to halt the development of Libra through a joint petition with European NGO Finance Watch. The stakes are high, and as can be seen from the survey results, the sentiment towards Libra is far from favorable.
