Twitter CEO Jack Dorsey answered a question about whether Twitter is interested in investing in the new Facebook currency, Libra, that his company is never interested in such nonsense.
Speaking on the News Summit program in New York City, Dorsey said Facebook's future currency was a gimmick, not a real crypto, and that his company would have nothing to do with it.
CNN's Kerry Flynn picked up Dorsey's comments and posted them on her Twitter account.
Would Twitter join Libra? “No. Hell no. Nothing within Libra had to be a cryptocurrency to do what they want to do. They use that label liberally. It's completely incorrect. I don't know if it's a gimmick but cryptocurrency wasn't necessary to make that thing work. ”- @jack - Kerry Flynn 🐶 (@kerrymflynn) October 24, 2019 |
Dorsey did not stop there, but described linking Libra to cryptocurrency as a suspicious marketing ploy.
Dorsey is not the only one who believes that linking Libra to cryptocurrencies is a mistake.
"Technically, there is a slight difference between the Libra mechanism for determining whether your transaction is worthy of approval," Visa said.
Facebook still seems to need to win more than congressional approval if its currency is to be widely accepted.