Andreas Townsend

2 months ago

Facebook's huge project, Libra has caused a lot of fuss in the crypto space.

This upcoming project is surrounded by both enthusiasm and criticism. For instance, 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.

A consultative approach for Libra

The founder and CEO of Facebook, Mark Zuckerberg, said that the giant company is planning to take a consultative approach to develop the controversial Libra.

A lot of people in the crypto space have been criticizing the project, while others have been saying that it will change the crypto space.

Zuckerberg's thoughts on Libra leaked

There have been leaked some text and audio from the internal Facebook meetings which are depicting Zuckerberg’s answers to a bunch of tough questions coming from employees about the company’s future and various controversies.

The reports are cited from the Verge by the online publication the Daily Hodl.

“Part of what we’re trying to do overall on these big projects now that touch very socially important aspects of society is have a more consultative approach. So not just show up and say, ‘Alright, here we’re launching this. Here’s a product, your app got updated, now you can start buying Libras and sending them around.’ We want to make sure. We get that there are real issues,” Facebook CEO said.

He continued and explained that finance is an extremely regulated space.

Facebook CEO said that there are a lot of issues that have to be dealt with in order to prevent money laundering, terrorists, and more.

The plans also include meeting with all the regulators and hearing their concerns in order to be able to build the best product.

You can check out more about what he had to say be heading over to the original article of the online publication mentioned above.

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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.

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