Facebook Prepares To Pilot Technical Growth Of Libra
It’s been already revealed that 2020 is expected to be a massive year for the crypto industry. Most indicators suggest that Facebook’s Libra will be society’s most significant step to date towards the concept of processing day-to-day transactions with digital currency.
Facebook’s proposed coin Libra triggered tons of controversy. The coin fasces issues with regulators, and the company is still making plans regarding its development.
On the other hand, it’s important to note that Libra stands as a substantial question mark for the cryptocurrency space.
There is even the possibility that Libra is so distinct from existing cryptocurrencies that there will be no intersection of the two worlds at all.
New committee to run the tech aspects of Libra
Facebook recently established a brand new committee to run the technical aspect of Libra coin, according to the latest data coming from the online publication Smartereum.
According to the official press release Libra Association established a team of five members in order to run the tech wing.
Smartereum reported that “The committee is made up of Bison Trails CEO and founder Joe Lallouz, Anchorage co-founder Diogo Monica, Calibra core product lead George Cabrera III, Union Square Ventures partner Nick Grossman, and Mercy Corps director of emerging technology Ric Shreves.”
Regulators and Libra
Last year, facebook’s assertion on Libra and the payment ecosystem regarding the Calibra wallet triggered issues in the crypto space and massive debate.
The subject became a vital one among regulators and legislators as the social media giant Facebook already has a history in the way in which they treat user information.
Smartereum also notes that regulators have been going back and forth to determine the way to categorize the new digital asset.
Anyway, the crypto space will definitely be an exciting industry to watch in 2020 despite the high volatility of the crypto market.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.