RATE Group | Facebook shouldn’t be driving libra project, Ethereum co-founder says
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Facebook shouldn’t be driving libra project, Ethereum co-founder says

05 Nov Facebook shouldn’t be driving libra project, Ethereum co-founder says

Posted at 20:28h in Ethereum News by

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Facebook founder Mark Zuckerberg speaks at Georgetown University in a ‘Conversation on Free Expression” in Washington, DC on October 17, 2019.

Andrew Caballero-Reynolds | AFP | Getty Images

Facebook should not be spearheading the libra cryptocurrency project, according to a co-founder of the Ethereum blockchain.

“I’m a big fan of projects like Libra,” Joseph Lubin told CNBC’s “Squawk Box” on Tuesday. “I don’t believe that Facebook … with the concerns that we have with respect to trust and personal identity in Facebook, should be driving that project.”

Lubin, who also founded blockchain company Consensys, said libra “suffers from its greatest asset” — the Menlo Park, California-based social media giant itself.

Unveiled in June, Project Libra was originally introduced along with a list of prominent corporate backers. Since then, it has faced skepticism and scrutiny from regulators, amid concerns over the entrance of Facebook into the financial services space, given the firm’s many…

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