New leaks from within the company "Facebook" and its cryptocurrency project "Libra" indicated that the company decided to change the main directions of this project to become more comprehensive and extensive, and to accommodate other cryptocurrencies, along with banknotes such as the dollar, yen and sterling, as well as Its compatibility with digital financial portfolios, which many central banks are currently launching, which makes "Libera" transform from a global encrypted global currency in its own right, to a mere payment method, in a more extensive and extensive payments network that accommodates and corresponds to currencies. Other, works with Here it is together.
welcome
These leaks came in a report published by the "Computer World" website, during which many experts welcomed the Facebook step, which they described as a "correction of a path", which opens the way to calm and perhaps remove the concerns of regulatory and official authorities, represented by central banks and ministries of finance around the world , Regarding the negative repercussions that they saw that the Facebook project in its initial form could cause it. Experts said that the new corrective step might make Facebook partners who initially supported its first idea, and then withdrew from it last October, might consider returning to the project again.
Reply
In the first comment on these leaks, the President of Politics and Communications of the Libera Association, Dante Despart, said that the association did not change its goal of building a global payment network that is in compliance with the regulations, nor did the basic design principles that support this goal have been changed, but the design of a system Libra for Governance and Technology is a flexible system that guarantees that it will change over time to meet the requirements of all parties.
However, many experts did not accept this conservative response by the association's head of policy and communications, stressing that a significant change has already occurred in the project's direction.
James Wester, the International Data Center researcher, said that both the increased organizational pressure and the lack of supporters of the project are probably the two main reasons for Facebook's decision that its digital currency be more inclusive, open and broad.
"The project and its constituent assembly created a lot of negative interest from the organizers, which made it logical for the members to put a distance between themselves and the project," Wester added.
A comprehensive approach
For her part, Vice President of Research at the International Gartner Foundation, Aviva Litan said: “Facebook and Libera Foundation had to start with this comprehensive and open approach to (Libera) currency from the beginning, as the previous approach made people feel nervous and that (Facebook) and its partners are trying to control a large part of the global financial system by creating their own currencies. ”
She emphasized that the new plan is better for consumers, companies and governments, as it gives users the option to choose a currency, including their paper currencies, and likewise, companies do not have a separate set of books and accounts for the new currency.
Pledge
In turn, the head of the cryptocurrency sector at Facebook, David Marcus, said that the company pledges not to mix the data related to the "Libra" trading and the financial transactions through which it is done with the data of users of its various social services.
"Libra"
The "white document" of the "Libra" coin, published by Facebook in June 2019, made it clear that "Libera" is a coded decentralized digital currency, designed to be widely, stable and secure, unlike Bitcoin and other digital currencies. , Which can be highly volatile and highly speculative.
She added that any developer, service or company in the world can use "Libera" and deal with it, through a digital portfolio or a specific operator, and work according to the rules and regulations in force in the global financial banking system, noting that "Libera" allows the purchase of products from commercial stores Regular through the use of a dedicated wallet application for this currency.
According to the document, an application called "Calibera Elite" or "Calibera" wallet that will be integrated in the "Messenger" and "WhatsApp" applications will be launched to allow the purchase of products and the sending and receiving of funds easily.