Facebook Looking at Relaunching Libra and Its Crypto

Facebook Looking at Relaunching Libra and Its Crypto 1024 500 Crypto Rand Group
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If you thought Facebook CEO’s Libra crypto project was dead and buried, you should know that it is still moving and may even rise again as he just hired a former HSBC bank executive.

When bankers change sides for cryptos

In a press release issued on September 17, the Libra Association announced that it has appointed James Emmett as Chief Executive Officer of Libra Networks. He will take up his new position on October 1st.

“(…)I am delighted to be joining Libra Networks with a mission to enhance financial innovation and inclusion and to deliver the operationalization of the network. “James Emmett

The new manager happens to be the former head of the European sector of the large international bank HSBC. He has a total of 25 years of experience in the financial markets.

The CEO of the Libra Association, Stuart Levey, said on the occasion of the appointment :

“I am excited that he is joining us and confident that his leadership will help make Libra’s vision a reality.”

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The Libra project, ready for a new phase?

The ecosystem of stablecoins initiated by Facebook is being built at a much slower pace than initially announced, but movements are nevertheless taking place little by little. It must be said that the fierce hostility of the States and national and international financial authorities have been a real blow to the project after its announcement.

After its big change of course last March, concerning the integration of stablecoins of state currencies (dollar, euro, …), the Libra project also announced at the end of May that it was renaming its wallet, from Calibra to Novi.

It was then specified that the application will require users to go through a complete identity verification (KYC) to be able to use Novi.

Libra is following his path and is moving further and further away from the concept of cryptomonney. At this rate, in view of the direction taken by the project, one wonders if the mountain will not give birth to a PayPal vaguely improved by “blockchain”. A magical word to surf the positive aura of distributed registry technology brought to light by Bitcoin.

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