Blockchain 

The Libra Association Gets a New Member in Shopify

The Libra Association has signed up Canadian e-commerce platform Shopify as its newest member as the troubled crypto project looks to get back on track. Libra has lost several founding members in recent months for a variety of reasons, the most prominent of which was the massive amount of scrutiny leveled at the project. The association was originally made up of 27 founding members; however, several early backers such as Visa (NYSE:V), PayPal (NASDAQ:PYPL), and Mastercard (NYSE:MA) all jumped ship before the founding charter was signed, leaving just 21 members.…

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Blockchain 

Libra Vice Chair Unconcerned By High Profile Departures

Dante Disparte, Vice-Chair of the Libra Association, said that he was unconcerned by recent high-profile departures from the project just two weeks after Vodafone became the latest name to ditch the proposed digital coin. Speaking to CoinDesk at the World Economic Forum in Davos last week, Disparte said that the Libra project was picking up pace despite huge regulatory resistance to the project and the departure of several of the association’s initial supporters, namely Mastercard, Visa, and Vodafone. He also said that the door remains open for those firms to…

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Bitcoin 

Mastercard CEO Reveals Why His Firm Quit Libra Over Several Red Flags

Mastercard CEO Ajay Banga says his company left The Libra Association after his attitude towards the project deteriorated over proposals to link the coin with its own built-in wallet, Calibra, as well as the lack of a clear business model. In an interview with the Financial Times, the payment services chief, who has headed up Mastercard since 2009, described the various red flags that led to his decision to pull the company from the project. “It went from this altruistic idea into their own wallet. I’m like: ‘this doesn’t sound…

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Bitcoin 

Vodafone Becomes Latest Big Name Backer to Quit Libra

British telecom giant Vodafone is the latest firm to pull out of the Libra Association, the non-profit body overseeing the Facebook-led digital coin, bringing the total number of early backers to withdraw from the project to eight. Vodafone Walks Away Both Vodafone and Libra confirmed the news last week with the departure appearing to be amicable, despite several high profile withdrawals last year coming across as less than friendly. The telecom company now says it intends to dedicate resources previously allocated for the project to its own well-established digital payment…

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Bitcoin 

Libra Still Faces Uphill Battle Despite Softened Swiss Stance

A Swiss government memo appears to show a softening in the nation’s stance towards Libra, the proposed digital coin led by Facebook (NASDAQ:FB), just weeks after its former president described the project as a failure. The memo, seen by Bloomberg, shows the Swiss government refusing to rule out the possibility that Libra may one day be granted regulatory approval in Switzerland, despite major reservations being held by EU regulators. Government officials will continue to monitor the progress of the project, paying particular attention to “the form which Libra may take…

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Blockchain 

Libra Association Sets Up Five Member Oversight Committee

The Libra Association, the non-profit organization overseeing Libra, has established a five-member Technical Steering Committee (TSC) to oversee and coordinate the technical design and development of the Libra network. The responsibilities of the TSC are to direct the technical roadmap of the Libra network, form working groups to fast track research into specific issues, guide codebase development, and build a healthy and engaged community of developers. The association has said that the establishment of the oversight committee is an important step forward in realizing its vision of a self-governing and…

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Blockchain 

Libra Exec Boasts Project’s Benefits Over Bitcoin at CES 2020

The vice-chairman of the Libra Association has been touting the benefits of the project over Bitcoin at the Consumer Electronics Show (CES) in Las Vegas. Dante Disparte, the vice-chairman of the non-profit organization overseeing the proposed digital currency led by Facebook (NASDAQ:FB), was speaking at the Digital Money Forum of the CES, where he emphasized Libra’s advantages over Bitcoin, the largest cryptocurrency in the world. “Bitcoin as an asset class has proven that mathematical scarcity can support an incredibly exciting asset,” said Disparte, before adding, “It’s not a means of…

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Ethereum 

Libra Has ‘Failed’ in Its Current Form Says Swiss Finance Minister

Libra, the much-scrutinized proposed cryptocurrency from Facebook (NASDAQ:FB), has “failed in its current form,” according to Swiss President and Finance Minister Ueli Maurer. Swiss President Critical of Libra Basket Maurer, who is in the final days of his year-long term as President of the Swiss Confederation, was speaking to the country’s national TV network SRF when he said, “I don’t think (Libra has a chance in its current form), because central banks will not accept the basket of currencies underpinning it,” adding that “the project, in this form, has thus…

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Blockchain 

Libra Lacks Strategic Plan for 2020 Launch, Says Board Member

Ever since Facebook announced earlier this year that it was going to launch its own cryptocurrency, Libra, the token has been met with a lot of skepticism. Leading regulators at some of the world’s central banks, as well as United States President Donald Trump, have criticized different aspects of Libra. Major Details In a new development, one of the board members of the Libra Association, Patrick Ellis, has stated that there is still no plan with regards to the launch of the token. He added that the association is not…

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Bitcoin 

Libra Co-Founder Says It Isn’t Competing With Fiat Currencies

Libra co-founder and chief economist of Calibra Wallet Christian Catalini has attempted to clear up misconceptions in relation to the planned digital coin in an interview with CNN’s Julia Chatterley. The release of the whitepaper on Facebook’s (NASDAQ:FB) proposed coin back in June prompted massive debate from politicians around the world, most of which vehemently oppose the plan as they feel it poses a threat to the economic sovereignty of nations. Catalini has attempted to allay some of those concerns by saying that Libra is, at its most basic, a…

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