Libra - Facebook's cryptocurrency is losing support

The world's leading companies that were supposed to build the power of the cryptocurrency signed by Facebook - Libra - have more and more doubts whether to support the project. Visa, Mastercard and PayPal are considering whether to continue their work in the association. This is another blow to Facebook's plans, after US authorities have explicitly said they are against the project.

Libra with problems

Recall: LibraCoin is to be a cryptocurrency based on blockchain technology. Its advantage over others is to be availability and ease of use. The plans include intuitive operation by the Masenger application, which on the one hand is to guarantee ease of use and on the other to guarantee the security of every transaction. Managers from Facebook took care of the work, and among the giants cooperating with them were to be, among others PayPal, Visa, Mastercard, eBay, Uber, Stripe or Coinbase. Well, they were supposed to be, but everything seems to indicate that there are less and less supporters of the project.

The Libra Association is not so numerous. The Wall Street Journal reports that both Visa and Mastercard are leaving. They will no longer publicly support this project. Bloomberg also reports that PayPal and Stripe Inc. also want to unsubscribe from the project. All companies do not want to mess with the US authorities and regulators who can affect their core businesses and really hinder doing business.

Responsible for implementing Libra David Marcus he is outraged by this information. He claims that no official decisions have yet been taken.

Source: Twitter.com

Will Libra's premiere be later?

Until recently it was planned that Libra will debut on the market in 2020 year. Now everyone is more cautious and even the greatest optimists do not want to bet when we can make payments using the new cryptocurrency. All because of the tough position of regulators, but also politicians who are afraid that the new cryptocurrency may be a threat to the dollar, and even to the entire US economy.

Despite this, project managers of Libra say that the launch of cryptocurrency in the middle of next year is possible, although they do not hide that it will be a long way. In the coming weeks we are to know the names of people who will enter the so-called council of Libra members.