Three dozen blockchain startups and non-profit organizations intend to implement a fork of the project the digital currency Facebook to run free from restrictions stablon OpenLibra. This was stated by co-founder Wireline Lucas Geiger, presenting the initiative at DevCon, reports CoinDesk.
Seeing #openlibra publicly announced for the first time is sending shivers down my spine. I am so excited about this initiative to «lock the door open» for libra tech. @geiger_lucas on the main stage at #devcon5 https://t.co/EdLqKm75K3 pic.twitter.com/9DAH8aPl2S
— Lane Rettig (@lrettig) October 9, 2019
According to Geiger, OpenLibra will be tied to this Libra, but does not fall under the control of any company or joint-stock companies.
The team OpenLibra representatives from various blockchain projects including Cosmos, Chainlink, Web3, Earth Democracy, and non-profit organizations such as the Danish Red Cross. The project received a “generous grant” from Interchain Foundation that will last for a few months, dobavilsya.
The developers OpenLibra already published on GitHub my version of the virtual machine Libra with unlimited access. Unlike digital currency Facebook, OpenLibra will work on Tendermint used, for example, in the project Cosmos.
Geiger explained that the project participants OpenLibra don’t want to “cartel of companies with Uber morality and censorship Visa” has become the sole owner of Libra. He called the idea and technology stablon Facebook “brilliant” and said that Libra “is able to become the currency of the Internet.”
“In Libra we believe in Facebook — no,” concluded Geiger.
OpenLibra team also plans to develop a credible management system platform, considering it to be important to the sustainability of free stablon.
“The government can attack Visa, Mastercard and Facebook from different sides, making the fragile reserve currency. We are less exposed to regulators. Our strength lies in the large number of participants, which are distributed not only geographically, but politically and economically,” said Mr. Geiger.
Note that for pressure regulators, payment companies Visa, Mastercard, PayPal and Stripe have begun to doubt in expediency of participation in the project Facebook. So far only PayPal has taken the decision to withdraw from Libra Association, although the Senate believe that it should do the rest.