David Weil Libra Calibra
Kevin Weil: Libra Is More Like Email Than PayPal
November 7, 2019
David Weil Libra Calibra
Kevin Weil: Libra Is More Like Email Than PayPal
November 7, 2019

Kevin Weil, the Vice President of product at Facebook’s Calibra digital wallet unit, said that Libra, the crypto project of Facebook, will be more similar to email tech than payment services such as PayPal.

On November 5, Weil, at the Web Summit in Lisbon, spoke about the interoperability — the basic principle of email will be the key concept of Libra.

Noting that any global developer or entrepreneur can build wallets for Libra, Weil encouraged the global community to collaborate on the interoperable protocols.

He said:

“You and me don’t have to collaborate on which email provider we are going to use before we send each other an email. We don’t have to choose which browser we are going to use tailored to which individual website you’re going to go to. These things are protocols, and as long as you build to the protocol everything’s interoperable. Libra is the same way.”

Kevin Weil

Considering the approximate timing for the Libra’s launch, Weil said that “this will be a journey of years and decades.”

ALSO READ :  US Army Reveals North Korea Has More Than 6,000 Hackers

As it has been reported by CNBC, he expressed confidence that the social media giant’s cryptocurrency will not go viral like a social network. He also stressed that users’ financial data on Calibra will stay separate from their social data on Facebook.

Likewise, Weil’s statement follows a recent claim of David Marcus, the CEO of Calibra, that companies outside the formal Libra Association are able to offer services on the platform. 

However, in an interview in mid-October, Marcus said that former association members such as Visa and Mastercard will still be able to issue cards for Libra.

At the same event, Weil also suggested that the best time to launch Libra was three years ago, before the major crypto bull run of 2017.

Thus, he reportedly added that now is the second-best time to do so. He also revealed that he was not an early believer of the major cryptocurrency Bitcoin (BTC) but became a fan in 2015 and 2016.

ALSO READ :  YouTube's 4 Day Crypto Content Ban Invokes Influencers Towards Decentralized Platforms

Source: cnbc.com | cryptoglobe.com | cointelegraph.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!