IBM willing to team up with Facebook for Project Libra

Project Libra gets more supporters as the general manager of IBM’s blockchain services has expressed the firm’s willingness to supporting Facebook, during a recent interview with CNBC

For over a century now, IBM has been at the forefront of technological innovations. To get a competitive edge amidst digital transformation and gain quicker access to more advanced technologies, the firm has turned to cryptocurrency sphere and the underlying technology behind its industry, blockchain.

And while the blockchain technology is still fledgling, IBM is committed to investing large portions of its research and development towards advancements in the field. Recently, it began allocating a large number of resources to the growth of the decentralized technology division.

Project Libra finds support in IBM and others

One of the initiatives the American technology giant is willing to consider is extending a helping hand to Facebook Libra for its launch and execution, according to Jason Kelley, the general manager of firm’s blockchain services. Libra, per Kelley, is legitimizing the field of blockchain, and thus, the firm is open to join forces with the visionary leader in social media and help set its ambitious project in motion.

Making progress in the blockchain is a collaborative effort, and anyone who is in support of building an ecosystem together that fosters growth in the field will receive a helping hand from IBM, asserts Kelley.

Whether IBM is looking to become a member of the Libra consortium is still unclear; however, Kelley’s unbridled optimism over project Libra gives us more than just an inkling.

Besides IBM, Zuckerberg’s competitors, the Winklevoss Twins, are also in pursuit of substantial cryptocurrency projects to offer to back. During their interview CNN, they hinted at partnering with Facebook over Libra; however, need sufficient information on its framework before calling the shots.

One of the earliest investors in Bitcoin and the acclaimed “Bitcoin Jesus,” Roger Ver, also verbalized his interests in the project through a Youtube video in which he claims to be in touch with the social networking company for getting it together.

More resistance for Project Libra

Thus, for Facebook, there seems to be no dearth of supporters, despite the fact, its project landed in deep water with regulatory disapproval and political skepticism. Recently, both Germany and France expressed an antipathetic reaction to project Libra and endorsed the idea of launching a digital euro instead.

Meanwhile, in its bid to set the stage for its grand launch next year, Facebook announced a list of currencies backing the project, out of which, the US dollar took precedence over other currencies.