• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Joseph Lubin and SU Zhu take turns to point out Libra’s flaws

Joseph Lubin and SU Zhu take turns to point out Libra’s flaws

October 25, 2019 by Ketaki Dixit

Libra has met with backlash from a lot of areas, be it from the cryptocurrency industry or the mainstream financial ecosystem. In a recent series of tweets, Joseph Lubin, the co-founder of Ethereum, had talked about Mark Zuckerberg’s words on Libra, which was also supported by Su Zhu, the CEO of Deribit Exchange.

Zhu’s tweet read:

“Zuck, on Libra

to cryptonatives: bank the unbanked

to US Senate: expand US surveillance powers and counter the Red Threat

to would be noderelayers/partners: monetize user data

to other govts: diversify from USD hegemony”

The tweet was in conjunction with Lubin’s word that touched upon how experimentation in the blockchain was beneficial, but something led by Facebook wasn’t. The Ethereum co-founder claimed that a project as ambitious as Libra should not be controversial on the surface and that other companies such as MakerDAO and JPMorgan were working on similar projects too. Lubin tweeted:

“It’s important to explore price-stable currencies, pegged to the value of another asset or assets. We’re moving into an era where the monetary systems of the world are challenged, and this tech can enable potential solutions.”

In his attack on Facebook, he continued:

“Facebook deploys various aspects of advertising technology to exploit people’s personal information and attention, and as a negative externality has become a weapon of mass social manipulation.”

Joseph Lubin theorized that facebook has a massive agenda up its sleeve. According to him, the company and its partners will try to leverage its 2.3 billion users into “their own monetary and payments jurisdiction, massive business and geopolitical opportunity.”

He also opined that sooner or later, Facebook will the troves of data that the company has on its users and link it to the transaction in the Calibra wallet. This was made with the assumption that Zuckerberg’s organization had done it in the past. Lubin added:

“Mark #Zuckerberg talks about @Libra_in terms that are quite familiar (and validating) to the people already building blockchain systems: broadening financial inclusion & fixing a broken financial system.”

Lubin urged users to reject autonomous bodies and create a more open, decentralized internet where the users have more power.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Altcoin News Tagged With: Ethereum (ETH), Libra

Primary Sidebar

Recent Posts

  • Bitcoin Network Sparks Intrigue As Block Fullness Reaches All-Time High September 22, 2023
  • Shiba Inu: Shibarium RPC Node’s Record-Breaking Success Fuels Enterprise Interest September 22, 2023
  • Crypto Wallets Allegedly on the Horizon for Microsoft’s Next Xbox Update September 22, 2023
  • Ethereum Struggles as Bitcoin Soars: Drops to 14-Month Low, Dominance at 18% September 22, 2023
  • Shiba Inu’s 756% Netflow Drop: Temporary Setback or Opportunity? September 22, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.