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Live: Congress vs. Facebook's Libra, Permission-Less Network
Summary: Congressman Budd states that “In its published material the Libra association commits to the Libra network transitioning from permissioned network to a permission-less one. I think that is in five years is that correct?” Marcus answers, “The stated goal congressman is to start that slow transition five years after the launch.” Then the congressman precedes ...
Congressman Budd states that “In its published material the Libra association commits to the Libra network transitioning from permissioned network to a permission-less one. I think that is in five years is that correct?” Marcus answers, “The stated goal congressman is to start that slow transition five years after the launch.” Then the congressman precedes with his question, “Given that this would require investors in the association to give up all their interest in revenue generated from this created reserve, what incentive would they have to do that?” Marcus replies, “Actually, this is not that way it will work because we believe that the current member who will run nodes on the blockchain will likely continue to be represented because in a transition to permission-less you would have delegation of voting, and the delegation will likely be done to the members that would have activity on top of the network. So we believe that it won’t be as dramatic of a shift in governance then what has been portrayed.”
Author: Sofia Cabrera
Tags: Calibra,Congressman Budd,David Marcus,Facebook,Libra,Libra Association,Libra Networks LLC
Link: Live: Congress vs. Facebook's Libra, Permission-Less Network [Copy]
