Vodafone becomes the eighth company to leave the Libra Association

After a series of big names that separated from the Libra Association at the end of last year, such as Paypal, Visa, Mastercard and Ebay, British telecom giant Vodafone has become the last to say goodbye to the ambitious digital asset project. While Vodafone’s statement states that it does not rule out the possibility of working with Libra in the future, a statement issued Tuesday by the Libra Association confirms the departure.

Another big name comes out of the Libra Association

Membership of the Libra Association continues to decline as the British telecommunications conglomerate Vodafone has become the last to announce a separation from the group. The Libra Association describes its role as working “to evolve and scale the network and reserve” of the planned Libra cryptocurrency.

Despite the publication of a letter signed in October last year, with the signature of Vodafone and then confirmed, the group announced its departure on Tuesday and said in a statement: “We will continue to monitor the development of the Libra Association and do not rule out the possibility of cooperation in the future “.

The association, which started with 28 founding members, has now been reduced to 20, as Booking Holdings, Ebay, Mastercard, Mercado Pago, Paypal, Stripe, Visa and Vodafone have left. Vodafone is making the move to direct resources and attention to M-pesa, its own digital payment service. Some speculate that Libra’s ongoing clashes with government regulators and those responsible for financial policies could also be an influential factor in the decision.

Libra advances despite uncertainty

Dante Disparte, head of politics and communication of the Libra Association, said in a statement issued to multiple media outlets:

“Although the composition of the members of the Association may change over time, the governance and technology design of Libra ensures that Libra’s payment system will remain resilient. The Association continues the work to achieve a safe, transparent and consumer-friendly implementation of the Libra payment system. ”

Although some doubt the planned release for 2020 of Libra cryptography, thanks in part to the lack of specific mention in the recent social media publication “Vision for the Decade” by Facebook CEO Mark Zuckerberg, the Libra Association continues. Libra also does not seem to lack interest from companies that expect to participate, with reports from a waiting list of more than 1,500 companies and plans to admit new members in 2020.

The Libra project has been the objective from the beginning by politicians and legislators, and even made fun of the influencers in the crypto space for not being a true crypto in the sense of decentralization and limited supply. At one point, the saga extends into a new decade while the crypto community watches to see what develops.

The traditional finance industry sees an enemy in the Libra project, social networks move communications is a very significant amount worldwide and a Capital is added that can be traded without using the platforms of large banks, industry Financial does not want to stop perceiving the generation of money without making much effort, blockchain-bitcoin technology as the beginning of this revolution can offer the solution, in a short time it will be possible new forms of wealth generation without a third party in discord. It is expected by new announcements.

Reference: bitcoin.com

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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