Libra is heading towards a fiasco
While it was impressive when the founder with huge names and founding members announced, Libra initiated its big departure. PayPal has left the company for unknown reasons. Crypto, which has been struggling as of late, is taking another hit with today’s development. Visa, Mastercard, eBay and Stripe have all withdrawn their support for it. In an interview with the New York Times, Visa revealed that they’re still waiting for more information about Libra before making a decision. One of their considerations is to figure out how Libra will be governed so as to conform to regulatory standards and address customer feedback.
What can you expect from the organization’s first meeting? Nothing less than what you would expect: it will be taking place in just 3 days’ time and many questions still need to be answered. However, Facebook’s recent commitment to support this project gives great comfort that Libra won’t suffer the same pitfalls as Facebook coin. Some companies have taken a step back and are still debating on what to do about Libra. They are worried that it may not be sustainable in the long-term. With the recent statement from stripe. They reaffirm that they want to build a supportive and inclusive system for entrepreneurs and consumers. They will closely follow the release of libra, which is Facebook’s planned currency.
There are many challenges that Facebook will face in the future. Not having partners means they will have to work hard to get the company accepted by society.
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Author: PC-GR
The World of Technology
