Facebook’s Libra Will Launch In 2020 Despite The Controversy Surrounding The Project
Facebook has been making headlines in the crypto space since they revealed the new project called Libra.
Libra has been threatened by the lack of regulation
Libra has been surrounded by various opinions. In the beginning, there was a lot of excitement around the project and then more, and more crypto voices have started to criticize it.
Not too long ago, Ripple’s CEO Brad Garlinghouse revealed his own thoughts about Libra.
He believes that the whole scrutiny that Facebook triggered is its own fault. Since the social media giant revealed its cryptographic project to the public regulators and policymakers had grilled this corporation.
Ripple CEO is certain that this whole situation is Facebook’s fault.
Libra will launch in 2020
Facebook’s Libra stablecoin is scheduled to launch at the end of 2020 despite the ongoing blowback from governments around the world.
An executive from the Libra Association said that the new crypto that is focused on revolutionizing the world of finance is on track for the release date.
There is reportedly no important detour due to policymakers and concerns.
The Daily Hodl reports that experts are calling this a gateway drug to cryptos with a massive target of billions of people.
This means that Libra could trigger the mass adoption of cryptos which would be a huge thing.
It’s also been reported that policymakers which include the leaders from the US, Germany, and France call for a moratorium amidst more efforts in Europe to block its authorization.
In a joint statement that has been issued by finance ministers Bruno Le Maire of France and Olaf Scholz of Germany during a meeting of eurozone finance ministers in Helsinki, the politicians said that cryptos could destabilize economies and “monetary sovereignty of European states and also pose risks to consumers,” reports Reuters.
According to the data coming from the Daily Hodl, it seems that they want to make sure the new currency never touches Europe.
We recommend that you read more on this issue in the Daily Hodl’s original article.
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.