Yesterday at the World Economic Forum, Facebook’s David Marcus, who is also a director of the Libra project, spoke on a
digital currency panel. Libra consists of two aspects: the blockchain network and Libra’s proposed stable coin backed by a basket of real currencies. His comments emphasized the network, and he suggested a variety of entities could issue digital currencies.
Marcus observed how it would be unacceptable if you used Gmail and were unable to send an email to someone at Yahoo mail. “But this is currently the situation. If you use a wallet app today, you cannot send a payment outside of the wallet app,” he said. Hence, he emphasized the need for interoperability.
“What matters is to figure out what is the right network to host those stable coins or CBDCs (central bank digital currencies).”
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Image Copyright: World Economic Forum
