Facebook’s Libra Is Unstoppable Due To Three Reasons
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.”
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.