Facebook Libra moving forward with 21 members; vows growth

Facebook Libra moving forward with 21 members vows growth

Facebook Libra is moving forward with only twenty-one members as a group of leading companies including, Paypal, Visa, Mastercard, and eBay left the Libra Foundation recently.

However, the Facebook and Libra Foundation continued the first council meeting in Geneva as planned. Two United States senators are facing heavy fires from the cryptocurrency sphere, having written letters to influence some of the Facebook Libra partners.

The director-general of the Libra Foundation Bertrand Perez stated that during the council meeting that the foundation now has a better list of members. He added that now their involvement and participation is guaranteed given that the charter was signed during the first council meeting.

Vodafone, Uber, and Spotify are among the twenty-one member board of Facebook Libra foundation council. The founding members are also the governing members; however, still seventy-nine (79) members short of the hundred (100) members.

Facebook Libra vows to grow

On the other hand, Facebook’s David Marcus vowed in an interview with Bloomberg that Facebook Libra would continue to grow. He expressed in the interview that,

I totally respect the fact that those businesses and those leaders have a responsibility to their shareholders, employees, and stakeholders… …we are going to move forward. We are going to add more members.

Despite key hurdles, regulatory issues, governments opposing the cryptocurrency, and various technical issues the Libra project must have been facing, Facebook is adamant about seeing the project through.

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Saad B. Murtaza

Written by Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.