Washington (AFP)

Mark Zuckerberg, Facebook's boss, continues to defend his project of digital currency attacked from all sides, while conceding that it is far from finalized and that the ambitions of the Libra could be revised downward.

"Clearly, we have not yet locked exactly how it will work," he admitted Wednesday during a hearing before the Congressional Financial Services Committee in Washington.

The CEO of the social media giant has answered many questions and accusations about Libra, his money project supposed to offer from the current 2020 a new payment method outside the traditional banking channels, to buy goods or money. send money as easily as an instant message.

"The goal of Libra is first to innovate and build a global payment system, rather than create a new currency," he said.

Such a system would be much less ambitious. "There are already discussions about this, about the interest of building a payment system from a specific sovereign currency rather than a new currency backed by a basket of currencies."

Facebook assures that Libra could help lower the cost of remittances around the world and thus facilitate access to financial services for people excluded from traditional banking channels, including migrants who send money to their families .

But the project faces criticism or even complete rejection from many governments around the world, who see it as a threat to the monetary sovereignty of states, and risks in terms of money laundering and data protection. users.

- The "ZuckBuck" -

Asked about the possibility of linking the Libra only to the US dollar, Mark Zuckerberg replied that "the community (of partners) was divided on this issue".

He conceded that it would be simpler from a regulator's point of view, but that the new currency "may be less welcome in some places if it is 100% based on the dollar".

He has repeatedly said that the Libra, run by an independent association (made up of companies and non-profit organizations), would not be launched until all the necessary green lights from the regulators have been obtained.

"The Libra association is separate from Facebook, and if I see that we can not keep up with the principles I've established, then Facebook will pull out of the project," said Zuckerberg.

His concessions and arguments have not convinced many elected fiercely opposed to the Libra, nicknamed "ZuckBuck", a contraction of Zuckerberg and "buck", that is to say "dollar".

"Facebook has let interference in the elections, divulged personal data, violates laws on rights and freedoms, among other scandals, and now they are trying to take even more control by creating this mysterious + ZuckBuck"? Out of the question! ", Tweeted the Democratic Chairperson of the committee, Maxine Waters, after her indictment at the opening of the session.

- Economic Patriotism -

For several hours, the young billionaire faced questions and even heated accusations on topics ranging from freedom of expression to discrimination against minorities to child pornography or vaccination.

But some elected Republicans have been open to the project of digital currency, in the name of a certain economic patriotism.

"I have my doubts about Facebook and the Libra, but if history has taught us anything, it's better to be on the side of American innovation," said Patrick McHenry.

Mark Zuckerberg has indeed placed on the geopolitical ground to defend the Libra. According to him, it will "perpetuate the predominance of the American financial system" in the world, especially with regard to China.

He explained that Beijing is preparing to launch a public-private partnership in the cryptocurrency sector, "that they are determined to export to the world".

Elected officials, he said, should "properly weigh the risks of a new system against the threats that would represent a Chinese financial system that would become the standard" in the world.

But several representatives were offended that the Libra association is based in Switzerland (to establish the currency as a global system) and not in the United States.

"You have enough influence to do that at home," said Lance Gooden, a Texan elected.

© 2019 AFP