The biggest concern for me is that Visa & Mastercard are on...

The biggest concern for me is that Visa & Mastercard are on board. Though this seems a pretty naked attempt by Facebook to have more control over their users & extract money from another source. There is still a cost to transfer money in/out of bank accounts & to exchange money from currency to currency & currency to aircoin. So this risk would be borne by owners of Libra, they would also I'm guessing then be exposed to financial & credit risk - so is this new concept simply Facebook & partners becoming a new bank? First threats to me would be Paypal. I may be a little conservative here but I would not like banks & governments losing control of payments networks to individually controlled companies such as Facebook or Amazon.