- Facebook’s Proposed Cryptocurrency will Not be as Popular as Facebook – Libra Executive
- Libra Is An Abomination – John McAfee
The vice president of product at Facebook subsidiary Calibra at the recent Web Summit in Lisbon Portugal on Tuesday stated that the projected Facebook stablecoin will not be as popular as its social media platform. In his statement, Weil went thus: “This is not going to be a thing that spreads like a social network. This is going to be the work not of years but decades, and it’s worth making.”
Weil further commented that the Libra Association and its members are still positive irrespective of the recent high profile departures including Visa and MasterCard. Last month in Geneva Switzerland, the 21 initial members signed a formal charter. Weil stated that Libra was just an idea 18 months ago, but currently, it has 21 members and a “bunch more that are looking to be involved.”
Bitcoin (BTC) Price Today – BTC / USD
Name Price 24H % $49,042.00
Speaking further with the Web Summit attendees, Weil stated the users will have more wallets than just Calibra, the Libra-specific wallet Facebook is developing to select from. The Fears of Facebook using Calibra for biased or otherwise distasteful purposes were raised by U.S lawmakers at a congress on Libra linked by Facebook’s CEO Mark Zuckerberg.
Weil reiterated Zuckerberg’s hearing statements, stating that other wallet selections will be available that can still influence “the accessibility and lower cost brought by the Libra ecosystem.” Truly, private wallets are already available. A keyless non-custodial Libra-compatible wallet was released two weeks after Facebook announced the stablecoin project in June by an Israeli developer ZenGo.
Libra Is An Abomination – John McAfee
John McAfee, a controversial fugitive is currently on an attacking spree towards Facebook’s planned cryptocurrency Libra by terming it an “Abomination,” he also states that the proposed cryptocurrency will give the CEO Mark Zuckerberg a never-before-seen control over its users. McAfee alleges that he is currently on the run from CIA, he claims that he can jeopardize any effort by authorities to find him by using a temporary Faraday Cage made up of tinfoil to resist electromagnetic fields. He also stated that in a decade, digital currencies will take over from conventional currencies. In his opinion, he believes, “Facebook’s Libra is an abomination, a twisted perversion of cryptocurrency. By its very definition, cryptocurrency wants to free us from control, but Libra is nothing but control. It is monitoring everything that you do. And, in conjunction with the U.S. government, it makes the cage in which you live even tighter and smaller.”