Not quite the same kind of inflation hedge as "free floating" limited-issue cryptocurrencies then?

(This is one of the things that confuses me about Libra's target market; if you believe the cryptocurrency marketing about privacy and permissionlessness and inflation-hedging, then Libra is terrible at those things. If you don't, and you're in Europe, you just use SEPA.)

You can only keep the value of something "constant" (or pegged to something) if it's not non-freely negotiable and you can tightly control it.

because the german example is tied to the currency used by germany (and the eurozone as a whole).