“Libra users don’t need to trust Facebook”

David Marcus (David Marcus), head of the blockchain on Facebook, published a message regarding the project Libra, which raised issues of trust in the company.

He stressed that Facebook is far from being the only member of the Libra association, so the social network will not control the blockchain and users should not be afraid for their personal data.

“Facebook will not control the network, the currency or the reserve that provides it. Facebook will be just one of over one hundred members of the association. We will not have special rules or privileges, ”said Marcus.

He also stressed that although Facebook owns Calibra, which develops a steakcoin wallet, it will not receive financial information. In addition, users will be able to choose from a variety of other wallets of various companies.

Marcus also dispelled concerns that users who do not have access to banking services may not have the means to use Libra. He said that a $ 40 smartphone would be enough to use steyblecoin.

“You don’t need to trust Facebook in order to take advantage of Libra. The company will not be responsible for the network. We immediately clarify our approach to financial data and underline our desire to create a truly valuable project, ”concluded Marcus.

Note that the other day more than 30 different public organizations in the United States signed an open letter to Congress with a request to suspend or cancel the development of Libra’s stablebcoin.