The CEO and founder of Facebook was interviewed by the Nikkei Asian Review and made important statements about Libra. The stablecoin, Zuckerberg’s word, does not have a precise launch date.
Facebook, in fact, is taking a much more careful approach than its previous projects.
“In the past, our approach was to build something and eventually, in the event of improper use of the tool, we would start working to limit it and block certain aspects or features. Now the reality is that there are too many people using what we put on the market: we can’t wait to release something to start working on its potentially dangerous aspects, we have to be far-sighted.
Zuckerberg talks about Libra
Facebook’s cryptocurrency, supported by a board of 28 members that together make up the Libra Association, has recently also obtained the support of IBM. The company said it was ready to work with Facebook on blockchain projects.
The main problem, however, is the regulators who have already tried to hinder the development of the stablecoin. Soon, representatives of 25 central banks will meet the top management of the Facebook project on Libra.
The regulators’ concerns are known to Zuckerberg, who has emphasized the need for dialogue to solve the problems together.
“A lot of people have had questions and concerns, and we’re committed to making sure that we work through all of those before moving forward”
Bankitalia’s openness in the words of Deputy Director Perrazzelli should be noted in this sense. When asked about the possible launch in 2020, the CEO tried to deflect:
“Obviously we want to move forward at some point soon [and] not have this take many years to roll out”
Zuckerberg’s new philosophy, which covers all ongoing projects and not just Libra, has a social focus.
“We want to have a period where we can go out and talk about them and consult with people and get feedback and work through the issues before rolling them out, and that’s a very different approach than what we might have taken five years ago. But I think it’s the right way for us to do this at the scale that we operate in.”