Virgo Cash aims to create an open protocol for regulation compliant monetary infrastructure that builds predominantly on the Cosmos technology stack. Its mission is to drive innovation across the regulated financial service sector by growing the adoption of decentralised crypto technologies. Bridging decentralised permission-less financial systems such as the Cosmos Hub and regulated financial systems is one of many important missions for Virgo Cash, as is the proper design of the software for the purposes of security and sustainability.
The danger of Libra, as the EU correctly notes, is the risk that a wide adoption of the Libra platform will take away the monetary sovereignty of nation states. We have been in discussions with the EU to mitigate this risk. Another important mission and consideration of Virgo Cash is to ensure that the regulations and policies adopted by government institutions, as well as industry standards, are compatible with the vision of a future that involves funding for ecological and environmental development and management, to ensure that we can solve problems such as global warming and pollution -- it was the laissez faire policies of banks and central banks that collectively incentivized the destruction of our ecosystem, and enabled unfair redistribution of wealth that is evidenced by today’s large wealth gap between the rich and poor in the United States and abroad.