Libra Leak: the return of the Partner is crumbling

Visa and MasterCard to reconsider the insider information according to their involvement in Libra again. Zuckerberg remains under the still left.

By Christopher clover
3. October 2019 BTC$8.245,97 -0.17% part Facebook Twitter LinkedIn xing mail

The planned Facebook Coin Libra runs the risk to degenerate into a non-starter. Apparently, the regulatory headwinds, the winds are blowing against the Stable Coin in spe from all directions more or less freaked out, some of the big supporters of the project. The wall street Journal reported, citing Insider reports. Thus, the harsh stance of the EU and US regulators to Libra have ensured that some of the Libra-partners – including payment service providers Visa and MasterCard want to reconsider your involvement in Libra once again. Visa and MasterCard, founding members of the Libra Association. This is a specially for Libra based, cross-sector umbrella organisation with headquarters in Geneva.

in addition to Visa and MasterCard, the Vodafone group, eBay, Spotify, Uber Technologies, and Andreessen Horowitz are among the prominent founding members. This will also act as the operator of the network node in Libra. A prerequisite for an investment of 10 million US dollars. This should be done through the acquisition of the "Libra Investment Token". The proceeds from the Token sale of the founding members form a part of the capital, with the Libra Reserve is to be established. The Libra Reserve, which is ultimately intended to guarantee the stability of the Stable Coin, composed of a basket of currencies, as well as various government bonds. Libra-a critic from the banking and government circles to fear, among other things, that the Facebook Coin can be due to the large user base of Facebook to be a threat to the state's money monopoly.

Libra: so Far, no one officially on Board

That Libra is not a question, just in terms of the unresolved Regulatory for a long time in dry towels is, it Visa-in-chief Alfred Kelly Jr has. already in July pointed out. So he cut down on the expectations of Visa-investors to Libra in July. On the occasion of a round of questions to the business quarter of 2019, a Deutsche Bank Analyst asked the Visa CEO after its evaluation in relation to the Libra-cooperation:

There is some confusion in the market about what to make of it. It is a strategic Partner of Visa, or a potential disruptive threat? I'm just curious on your thoughts and the level of expected Visa-participation in Facebook's Libra.

And Kelly, and also with reference to the unclear regulatory situation – abwiegelte:

The first thing I would say is that I think it is important to understand the facts here and not to make quick shots. Therefore, we have signed a non-binding Declaration of intent for the accession to Libra under. We are one of the – I think there are 27 companies that have expressed this interest. So has logged on, still no one officially. [...] We are in discussions and our final decision for membership is determined by a number of factors, including, of course, the ability of the Association to meet all necessary regulatory requirements.

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Also, Kelly speaks of a "huge" amount of tasks that give it cope with the Libra Association yet. Currently, the project was still in a "very, very early" stage.

Zuckerberg for Libra-criticism: personal involvement beats media theater

Meanwhile, came recently to the recording of a Facebook's internal Q&A session with Mark Zuckerberg to the Public. The Facebook CEO on regulatory issues, in the case of Libra are mostly left with:

The public things, I think, are usually a bit more dramatic. But a large part of the private cooperation with regulatory authorities around the world, and I think that these are often substantial and less dramatic. And these Meetings will not be played for the camera, rather, there is a lot of discussion and Details out,

Zuckerberg said in the leaked recording, which is the magazine The Verge.

Libra vs. brain surgery

Apparently, Zuckerberg has lost neither his courage nor his humour. One of the questions to the Facebook founder was related to the future implementation of brain-Computer interfaces, such as those of the company Neuralink be developed.

What do you think of privacy in a world in which we capture the intent to purchase and Display a direct brain Link could switch?

Zuckerberg emphasized in his response that Facebook will in the coming years, although the sector Augmented and Virtual Reality, opens the skull cover of the Facebook User you want to remain, however, intact:

We focus exclusively on non-invasive [VR - and AR-solutions]. We try to make AR and VR in the next five to ten years, a great thing to have. [...] Do you think Libra is hard to start. "Facebook wants to perform a brain surgery" – I don't want to see the Congress hearing,

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Zuckerberg said more.

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