RATE Group | Facebook’s Libra launch was ‘ridiculously stupid,’ blockchain boss says | Currency News …
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Facebook’s Libra launch was ‘ridiculously stupid,’ blockchain boss says | Currency News …

24 Nov Facebook’s Libra launch was ‘ridiculously stupid,’ blockchain boss says | Currency News …

Posted at 10:35h in Cryptocurrency News by

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Mark ZuckerbergGERARD JULIEN/AFP/Getty Images

  • Facebook’s unveiling of its proposed Libra cryptocurrency this summer was “ridiculously stupid,” according to the boss of a company building its own blockchain ecosystem.
  • “The way they rolled it out … it was just so in your face,” R3 CEO David Rutter said at a recent company conference, according to Financial News.
  • Rutter called the social network “really naive” based on some of its ideas, such as underpinning Libra with a weighted basket of currencies.
  • Visit Business Insider’s homepage for more stories.

Facebook’s unveiling of its proposed Libra cryptocurrency this summer was “ridiculously stupid,” according to the boss of a company building its own blockchain ecosystem.

“The way they rolled it out … it was just so in your face,” R3 CEO David Rutter said at a recent company conference, according to Financial News. “There’s a lack of understanding.”

Facebook underestimated the complexity of building a cryptocurrency ecosystem, Rutter said,…

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