Binance is considering becoming necessary for Libra from Facebook

Binance is considering becoming necessary for Libra from Facebook

Last week Facebook published the whitepaper of cryptocurrency Libra. The official website also explains that 100 nodes are needed for the corresponding blockchain. According to rumors, Binance is also considering becoming a node.

We certainly consider it

The social network also shared the names with the first 23 nodes confirmed. The list contains leading companies such as Visa, Uber, eBay, Vodafone and of course Facebook itself.

Binance Chief Strategy Officer Gin Chao spoke with Cryptopotato at a fintech conference in Tel Aviv, Israel. Chao is a former corporate development executive for both the NBA and Dell.

Chao admitted during this interview that Binance, one of the world’s largest exchanges, is definitely considering becoming a node for Libra. For the time being it remains a consideration, where the advantages and disadvantages still have to be eliminated.

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“We certainly consider it. And so we want to think about this carefully. Whether we become one or not, that remains to be seen. “

Libra is confirmation of cryptocurrency

At the same fintech conference, Chao also spoke about the impact that Libra can have on the crypto ecosystem. He did this on a personal note:

“It’s a good thing, for sure. Every time a company interferes with Facebook’s weight, size, resources and impact, it is a confirmation that blockchain works. But also in this case, cryptocurrencys. So whether Libra becomes incredibly successful or not, it’s already a good thing. “

Nice bridge to adoption crypto

Chao also spoke positively about the global approach to Facebook:

“It is good that Libra has a global perspective. There will be a dollar and a basket with other currencies. […] So I think they have that part philosophically correct when it comes to stablecoins. “

Chao believes that Libra is the best bridge for the adoption of cryptocurrency that we have seen so far, because it will be a real use case for crypto. In addition, Facebook, and all its related services such as WhatsApp, Instagram and Messenger, can offer their services in Libra instead of dollars or euros.


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