Mihai Alisie expresses concern about Cryptomonda Libra

Ethereum co-founder Mihai Alisie gave a Bloomberg interview in which he expressed concern about Cryptomonda Libra.

Alisie pointed out that Facebook is trying to get the regulatory authority’s approval for a centralized stable cryptomon. He argued that:

“Facebook intends to mislead regulators who have learned in recent years that blockchain is not an industry easy to regulate. The project should be treated as an entity trying to create a centralized currency. “

The Libra Whitepaper argues that the new cryptomon will not be controlled centrally by Facebook or other members of the association until the early years. Subsequently, the network would become decentralized.

Possibility of censorship

One of the main concerns for Mihai Alisie is censorship – more precisely, the censorship of transactions by validators.

In the interview, he argued that if a user does not have good relations with one of the companies, then his transactions could be blocked or reversed. This is all the more risky since validators include giant companies such as Visa, Mastercard and PayPal.

“Do you think we need to give them the power to control what we post on our devices?”

asked Alisie.

Global effect

Mihai Alisie believes that the possible centralization of Libra and the potential for censorship could have a large effect on many fronts:

“This has implications for many areas, from economy to politics, technology, surveillance and confidentiality. Facebook actively manipulates people’s behavior on a global scale. “

Another co-founder of Ethereum, Joseph Lubin, criticized the Libra as a Facebook attempt to promote a centralized currency as a decentralized cryptonomy.