Libra Association of Facebook wants to start with 100 members
The hotly debated Libra project from Facebook has received strong against the wind blowing from the policy of Germany and France. Still want Libra to be unimpressed by the development, and remains optimistic for the Start in the first quarter of 2020.
Libra had seen in the last few days, the Bounce of major Financial heavyweights such as Paypal, Visa or Mastercard. The open letters of two senators from the Senate, had caused quite a stir in the United States of America. Sherrod treasure (Senator) stated that any breach of security could ripen in Facebook at a disadvantage or risk to their own enterprises (freely translated):
You should make sure that all the weaknesses in the risk management systems of Facebook to be weaknesses in your systems, you cannot mitigate may be effective.
Nevertheless, the range of the employees of the Tech giant’s made of led high, that Libra wants to keep its promise to start with 100 high profile members. Bertrand Perez, Chief Operating Officer and interim CEO of the Libra Association, told CNBC that he was “confident” that the Association will reach its goal of 100 members. But Perez has indicated that it is unlikely that the new members have not the same “financial weight” and “range” to bring such as Paypal or Mastercard (freely translated):
There is only one Visa, one MasterCard, I am not going to tell you that we have the Equivalent, but I’m going to tell you that we have reputable companies that are also very active in the financial and banking sector.
He called the lack of exact name and held with the specific Details continue to be covered. Libra, however, will publish in the next few weeks for more information. Surprisingly, the statement that in his opinion makes no difference whether Libra will start a few months sooner or later was translated (freely):
With such a large project and the Vision that we have, is changed by the launch of several quarters, earlier or later, nothing really.
The race to Launch a digital currency, backed by several Central institutions or the Central Bank of the country, goes to the next round. China is already working for 5 years in the development of the digital Yuan. This should be brought to the end of this year, at the latest, in the first quarter of 2020 on the market.
The Libra Association, presented earlier this week their articles of Association and the elected Board members. Perez also describes that over 1,500 companies have expressed interest in membership of the Association and 180 companies fulfil the membership criteria. The majority of the seven members who have left Libra, last month, came from the financial services industry. They had signed letters of intent (Letters of Intent, LOI) in which they committed themselves to membership on the platform, but not the $ 10 million Deposit, which are necessary in order to fulfil their promise.
After the announcement, their concerns were mainly related to the treatment of regulatory issues in connection with Libra through Facebook. While the performances of the Libra-co-founder David Marcus in Washington, D.C., spared the legislature no criticism, and contempt for the ambitions of Libra. The last Jumps has been accelerated by open letters (as already described), the was sent by democratic senators to the members of the Association. The Letter warned you of an additional regulatory control in their core business, if you support Libra still.
Featured Image: Production Perig | Shutterstock
