Facebook’s Libra receives fresh criticism from Twitter and Ethereum founders – Libra News

Twitter and Ethereum founders have joined the group of Libra critics. Jack Dorsey boldly refused to be a part of the Libra Association and noted that Facebook was entirely wrong to remark the project as a Cryptocurrency. Joseph Lubin criticized Mark Zuckerberg on his testimony before the senators that failed massively. However, Facebook might benefit due to the arriving fear China might impose through its CBDC.

Facebook’s Libra has obtained a new team of critics. The originators of the prevalent blockchain and social network, ethereum, and Twitter have cited their opinions on the project. In a recent interview with Buzzfeed, Jack Dorsey, Twitter and Square Inc. founder, has stated that calling Libra a cryptocurrency was a “completely incorrect” decision taken by Facebook.

Also, when questioned about being a part of the Libra Association, Dorsey firmly replied, “Hell no,” and said that it is not a virtual currency.

Parallelly, the co-founder of Ethereum, Joseph Lubin, stated his stance on the Libra’s hearing held on October 23. He criticized Mark Zuckerberg on his testimony and tweeted, “Mark, instead of co-opting decentralized technology and dumbing it down, why not work on contributing to something where thousands of people are already making progress?”

However, one thing that can stand in support for Libra’s launch is the inauguration of China’s digital currency that is believed to pose a threat to the economy. Also, Zuckerberg stated this in the testimony in the belief of turning the tables in his favor.

ADVERTISEMENT
Avatar
Saloni Sheelwant
Saloni Sheelwant treasures to research and write about the new startups and technologies thriving at a very fast pace.

Leave a reply

Please enter your comment!
Please enter your name here

Enable Notifications    Ok No thanks