Facebook's Libra faces anti-trust review by EU watchdogs

While it is perhaps necessary for such a review to take place, given the somewhat hysterical reaction of US legislators, let us hope that it is done to consider the good that can come from Libra's costsaving blockchain technology, as well as assessing any anti-competitive aspects.

Being able to offer financial services to the 2.4 billion Facebook users around the world - and, in particular, the 1 billion plus unbanked of them - is a major potential breakthrough. Just one facet is the $1 trillion pa remittance market, where the average costs are still around 7% (and much higher in many cases); Libra can bring this down to 1% or lower. So, $60 billion extra income for many of the poorest people - that's more than the whole US government international aid budget, to show the value.

The other Libra association members, such as PayPal and Vodafone, will offer strong competition to Calibra, the Facebook subsidiary which is an equal member with them. 

So, yes, please EU investigate the whole Libra story, but do so from a position of evalution of the good as much as of the harm.