The Libra Association, in its latest announcement, revealed that they had elected a five-member committee that would oversee the development and coordinate the technical design and development of the Libra network. Libra Association also listed down the responsibilities that would be carried out by the committee.
Committee will publish a technical governance framework.
The responsibilities for the committee include directing the technical road map for the Libra network, forming Technical Working Groups to fast-track research into selected specific issues, and building a healthy and engaged Libra developer community. Libra is scheduled to launch this year, but the possibilities of pleasing regulators are quite slim. The five members of the committee are Anchorage co-founder Diogo Monica, Calibra core product lead George Cabrera III, Bison Trails founder and CEO Joe Lallouz, Union Square Ventures partner Nick Grossman and Mercy Corps emerging technology director Ric Shreves.
Australian Central Bank will not allow Libra even after regulations.
Since the announcement of Libra by Facebook, the project has been heavily scrutinized by the regulators all over the world. Earlier, the central bank of Australia said that Libra would not be allowed in the country even with heavy regulations. The European authorities have also criticized Facebook for proposing Libra. The launch of Libra is scheduled to take place sometime this year, but Facebook executives have claimed that they would not go ahead with the project without satisfying all the regulators.