It took just two months after Facebook unveiled Libra for governments on both sides of the Atlantic to start questioning whether the Libra network and currency might pose antitrust concerns. It is Facebook’s access to 2.7 billion users that concerns the authorities. And Libra’s potential to compete with national currencies.
In a recent article for the Michigan Law Review, academic Dr. Thibault Schrepel (Harvard & Utrecht University School of Law) outlined the potential antitrust issues relating to Libra. Some of the factors that Schrepel raised could be applied to other permissioned networks. Moreover, there’s a risk that any organization could threaten an antitrust complaint if it’s displeased with an industry-owned network.
In other words, the threat of antitrust could be the Achilles heel of permissioned blockchains.
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