Joseph Lubin Criticized Libra Stablecoin Because of Weak Decentralization

The co-founder of Ethereum Joseph Lubin criticized cryptocurrency project Libra and called it ” centralized wolf in the skin of decentralized sheep”.

Joseph Lubin Criticized Libra Stablecoin Because of Weak Decentralization - invest with bitcoin doubler 2x
Joseph Lubin Criticized Libra Stablecoin Because of Weak Decentralization – invest with bitcoindoubler2x.com

Lubin noted that White Book of the project collected general terms and statements of crypto sphere. Libra creators say that sending money all over the world should be “as easy, as sending a message”, and financial infrastructure should be regulated. Wherein, users will have to trust to Libra.

“The most interesting thing, we have to believe that Libra blockcchain with time will become less controlled and more decentralized, and that any user will be able to take part of management. Initially control will be provided just to 28 companies”, – Lubin stressed.

With this, Ethereum co-founder has noted that he also sees positive sides of stablecoin, developing by Facebook. According to Lubin, in several years about 2 billion people will use Libra cryptocurrency.

“Talented interface designers will be able in one fell swoop make cryptocurrency usage much easier. Manage private keys, make payments and install cryptocurrency plugins in browsers can be as easy as clicking “send” button in WhatsApp”, – he said.

Investment platform learned that earlier Chairman of the Central Bank of France claimed that within international club G7 was formed a working group, which would study Libra cryptocurrency and its compliance with regulatory requirements.

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