Facebook’s Libra is a controversial project. In the beginning, it managed to trigger a lot of curiosity and enthusiasm in the crypto space, but then it triggered tons of scrutiny.
Ripple’s CEO Brad Garlinghouse revealed his own thoughts about Libra.
He believes that the whole scrutiny that Facebook triggered is its own fault.
The project could be threatened by the lack of regulation, according to more expert voices.
More than that, in other news, Facebook CEO Mark Zuckerberg revealed not too long ago that the social media giant will have a consultative approach in the development of this project.
Facebook’s Libra will be a part of the crypto space no matter what
The French billionaire Xavier Niel said that Facebook-led stablecoin Libra would exist together with thousands of other cryptos.
This man is the founder of the French Internet service provider Iliad. In a new article at Led Echos, he said:
“Libra will exist along with the 1,600 other virtual currencies already available in France. It is inevitable, with or without us, [whether] the states want it or not.”
He continued and explained that “To fear [Libra] will not prevent her from arriving. The priority is, therefore, to accompany the change, make it possible and accessible. We must anticipate, so as not to find ourselves dependent and weakened. Technological progress can coincide with societal progress and that of humanity.”
Main reasons for which Libra will prevail
France has to be at the heart of this revolution, he said.
He continued and explained that to deny it or to close the door would not bring anyone profit.
He highlighted that even if the concerns regarding Libra are legit, there have to be answeres and the benefits for everyone must be measured. He mentioned three elements which support Libra:
“There is an aspiration in the world for more freedom, autonomy and less dependence on states.”
