Progress Amidst Controversy
Despite facing a whirlwind of regulatory scrutiny and the exit of some founding partners, the Libra Association isn’t letting the challenges outweigh its ambition. Over the past two months, the organization has logged a staggering 30 projects and more than 51,000 transactions on the Libra network. Think of it as the little engine that could—even if the hills are steep and a few partners have jumped off the train!
New Developments on the Horizon
Announced recently in a press release, the Libra Association has plenty of new features and initiatives lined up. Coming toward the end of November, the team plans to unveil a streamlined process for Contributor License Agreements (CLAs). You know, the bureaucratic red tape that makes you wonder if you’re about to sign away your firstborn child?
- Improved submission process for CLAs
- Deployment of 100 nodes on the mainnet, blending both on-premises and cloud setups
- Formation of a Technical Steering Committee to oversee tech development
It’s like they’re building a Lego set—every piece is essential, but they’re determined to make it an impressive construction!
The Tech and Transactions
The technical achievements of the Libra network are hard to overlook. Since the reset of the testnet on September 17, non-custodial keyless wallet solution ZenGo has begun operating in test mode, allowing users to send and receive the stablecoin just like any other cryptocurrency. It’s like your regular bathroom scale transforming into a fancy smart scale, but in the world of crypto!
Facebook Pay vs. Libra Stablecoin
Interestingly, while the Libra Association works tirelessly on its stablecoin, Facebook has introduced a separate fiat payment system known as Facebook Pay. This system aims to provide a frictionless payment experience across their platforms—think less about crypto transactions and more about sending that gif to your friend on Messenger (because that’s what true friendship is all about).
Kevin Weil, the prodigy behind Facebook’s Calibra digital wallet, has noted that the Libra’s approach is more akin to email technology rather than traditional payments like PayPal. He emphasizes that this will be “a journey of years and decades.” So, patience is key, folks—just like waiting for that perfect bread loaf to rise.
The Road Ahead for Libra
With its ambitions soaring high, the Libra Association is on a mission. Will they breeze through the regulatory hurdles, or will it be like running a marathon—slow and steady wins the race? Only time will tell, but for now, they’re building the infrastructure that might just launch us into the next phase of digital currency.
+ There are no comments
Add yours