Facebook’s proposed cryptocurrency Libra received massive attention ahead of its launch, but something is undoubtedly cooking as the CEO of social giant failed to commit the specific launch date of Libra.
Zuckerberg on Libra
As per the popular tech media Nikkei Asia, Facebook founder and CEO Mark Zuckerberg avoided specifying the launch date for their upcoming stablecoin, Libra. Although the giant seems continually contributing to the development of Libra, Zuckerberg says that;
“Obviously we want to move forward at some point soon [and] not have this take many years to roll out,” he said. “But right now I’m really focused on making sure that we do this well.”
There’s no doubt that the name Libra appears on the top bulletins often – sometimes with the positive comments by the regulator or central bank officials, and other times caught with the criticism.
However, the officials from the team Libra, including Calibra CEO David Marcus responds to the rising concern of regulators optimistically. This time, the Facebook boss shared his views on Libra in an interview with Nikkie Asia, wherein he reveals the team behind Libra is really focused on launching Libra.
As the giant is entering the financial industry, Zuckerberg informs that they’re moving forward to launch Libra with utmost caution. He notes the project is “compassionate for society” and says that “they seek to work through the issues” ahead of their appearance – and it does so by consulting with people. Zuckerberg further continued;
“And that’s a very different approach than what we might have taken five years ago. But I think it’s the right way for us to do this at the scale that we operate in.”
Libra v/s Regulators
It’s worth reminding that Bruno Le Maire, the Finance Minister of France is the latest high-profile policymaker who bashed at Libra. At the opening of an OECD conference on cryptocurrencies, Bruno Le Maire stated that the plans of launching Libra could not move in Europe until monetary sovereignty concerns were address.
Considering Libra as a threat to the sovereign currency of the nation, he says, “we cannot authorize the development of Libra on European soil.”
Commenting on the rising concerns from the regulators, he says that, ahead of launch they want to ensure “they work through all of those.” Zuckerberg’s statement fails to commit launch date of Libra – on the other side, the Calibra CEO in his earlier tweet said that they would launch Libra in 2020, as announced earlier this year.
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