Twitter Will Not Join Facebook Crypto Libra
October 29, 2019 9:53 pm
Jack Dorsey, CEO of Twitter said that the social media giant will never join Facebook’s cryptocurrency Libra. While asked about the potentials of joining the Facebook cryptocurrency payment scheme, the CEO replied “Hell no”. According to him, Libra is not based on an open standard rather than born on the internet.
“It’s not an internet open standard that was born on the Internet. It was born out of a company’s intention, and it’s not consistent with what I personally believe and what I want our company to stand for.”
Recently, Jamie Dimon, CEO of JPMorgan Chase said that Facebook’s cryptocurrency Libra is “a neat idea that will never happen”. According to BNN Bloomberg’s report, during a speech at the Institute of International Finance conference on Friday, the CEO stated that the idea behind Libra is not unique. He also turned his statement towards his company’s stablecoin, JPM Coin, stating that JPMorgan is spending over $11 billion on technological developments this year.
“To put it in perspective, we have been talking about blockchain for seven years and very little has happened. We are going to be talking about Libra for three years from now.”