Hi, I just read libra white paper and giving access to payments to 2bn unbanked people is a great goal. Now the paper is a bit light on how to protect the most vulnérables.
It would be great to have some biometric checks via a mobile Dapp every time people log into their account. This information could be embedded in the private key. This would help against mobile theft.
This biometric checks could determine if a child is trying to open an account. To open an account his parents biometric information should also be checked to make sure that they agree with the opening of the account. A cap on the amount Libra that an under 18 can hold should be implemented. This is to prevent the child becoming a victim of predators.
For AML reasons, the system should check that a biometric impression cannot be linked to more than 2 or three Libra accounts. A cap like in banking should be included on the amount of a transaction. This would also help the Libra reserve to be more stable.
To help central banks there should be a report created daily on the amounts that have gone in and out of each country. Maybe limits in case of a liquidity drain should also be implemented in case a very poor country runs into problem. This should help regulators to agree about Libra being deployed.
Please feedback on the above maybe your governance ideas will help to develop a payment life line to billions of people. Take Care