Calibra CEO David Marcus was speaking at the Money 20/20 conference held in Las Vegas on 29th October. Marcus has defended Facebook’s cryptocurrency project by describing it as “the most meaningful innovations that have changed the lives of millions across the world in a profound way have always been met with damning headlines.”
Ideally, David’s speech tried to provide insight on how Libra will improve traditional payment systems by providing; a secure and noble way of moving money across borders. Moreover, Marcus stated that the underlying Blockchain technology behind Libra digital currency; will enable regulators trace transactions and notice suspicious payments. He said:
“The open ledger - the blockchain - enables regulators to look at what is happening themselves and identify where the risk is without relying on reports. The onus is on us to do that work and now that we have the governance structure in place, we can now demonstrate this improvement.”
Comments