Zuckerberg holds fire on Libra launch

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Mark Zuckerberg, the man behind Facebook, has started talking about Libra, having kept quiet for the last few months about the project. He said in an interview this week, that Facebook was taking a much more careful approach to Libra than previous projects, Cointelegraph reports.

During the interview with Asia-based news outlet Nikkei on 26th September, it appeared that Zuckerberg was more nervous about Libra than he usually is about any Facebook project, and it surmised that this was because the stablecoin had come under such rigorous regulatory scrutiny.

Facebook’s digital currency has come under fire from governments worldwide since its whitepaper appeared several months ago, and there have been more negative reactions to it than positive ones. Most of the governments who have spoken about Libra are afraid that it will undermine fiat currencies.

Zuckerberg said during the interview: “Part of the approach and how we’ve changed is that now when we do things that are going to be very sensitive for society, 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.” He then added, “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.”

In the cryptocurrency community there have been a number of voices supporting Libra, including the Coinbase CEO, Brian Armstrong. He said this week, “Libra is one of several important crypto projects on the horizon with the potential to improve the world. Whether it works or not still remains to be seen, but I find the backlash to it a bit odd and misguided.”

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