Shaking Off the Weight
In a bold move, Calibra’s head honcho David Marcus is dishing out some sweet reassurance regarding the resilience of the Libra project. Following the mass exodus of seven major companies from the Libra Association, Marcus asserts that their departure means less than a grain of salt, as the project marches on unscathed.
The Power of Participation
During a recent chat with Yahoo Finance, Marcus made it clear: just because a couple of big names left the party doesn’t mean they can’t still join the dance. In his words, “One thing that is not well understood is that you don’t need to be a member of the Libra Association to build services and products.” For instance, companies like Visa and Mastercard could decide to whip up Libra wallet cards at any time, giving them flexibility that would make even the most seasoned yogi jealous!
Respecting the Decision
While some might view the withdrawal as a loss, Marcus is taking it in stride. He extended his gratitude to the departing companies for their courage in entertaining the notion of self-disruption. Talk about a compliment! It’s a tough call, but he acknowledges these companies are essentially stuck between a rock and a hard place when it comes to shareholder expectations. Apparently, keeping shareholders happy can sometimes seem like juggling flaming torches while riding a unicycle.
Regulatory Matters? Not So Much
When asked about potential regulatory pressures that might have pushed these companies away, Marcus chuckled and remarked that the departures had nothing to do with those concerns. Instead, he emphasized that Libra is on track to navigate regulatory mazes like a pro. Of course, he admits it won’t all be smooth sailing ahead—”It will continue to be difficult and might even get harder before it gets better.” Sounds like a classic rollercoaster ride!
The Road Ahead
Despite the hiccup, the Libra project appears to be gearing up for a robust future. With a renewed resolve and its foundation officially laid in Switzerland, the Libra Association soldiers on with 21 dedicated initial members—including heavyweights such as Uber and Coinbase. And with a target of 100 members by its public launch in 2020, it seems Marcus is unfazed and ready to keep the wheels turning. Amidst all this, U.S. Rep. Warren Davidson even chimed in, suggesting that adding Bitcoin to Calibra might be a “way better idea” than conjuring up a brand-new currency. Now that’s food for thought!
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