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Facebooks's Libra Could Stay as a Concept
Summary: After all the criticism Facebook has faced after announcing Libra, there is a strong possibility that the cryptocurrency will never make it out of the development stages. In its latest quarterly report, Facebook addresses its investors stating that there are numerous risk factors that may keep the company from launching Libra in 2020. Libra has received overwhelming ...
After all the criticism Facebook has faced after announcing Libra, there is a strong possibility that the cryptocurrency will never make it out of the development stages. In its latest quarterly report, Facebook addresses its investors stating that there are numerous risk factors that may keep the company from launching Libra in 2020. Libra has received overwhelming disapproval from lawmakers and regulators from both the U.S. and oversees. A statement from Facebook follows, "Libra has drawn significant scrutiny from governments and regulators in multiple jurisdictions and we expect that scrutiny to continue. In addition, market acceptance of such currency is subject to significant uncertainty. As such, there can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all. We do not have significant prior experience with digital currency or blockchain technology, which may adversely affect our ability to successfully develop and market these products and services."
Author: Sofia Cabrera
Tags: Blockchain,Calibra,Cryptocurrency,Digital Currency,Facebook,Facebook Libra,Libra,U.S.
Link: Facebooks's Libra Could Stay as a Concept [Copy]
