One hundred members in Libra Association seems like a far fetched dream with all the negative press about Facebook’s digital currency. However, that’s precisely what The Libra Association claims will be valid on its launch date. The anticipated launch date has not been revealed yet.
In its June announcement, it envisioned the number of Libra members to be close to one hundred and featuring some of the most prominent banking and financial names. Recently, it has faced substantial roadblocks and criticism from various angles making its journey towards launch quite a bumpy ride.
Despite these impediments, a Libra representative spoke confidently in Geneva at the charter signing event that the vision to have a one hundred members in Libra Association at launch is very much possible.
One hundred members in Libra association isn’t impossible
Libra Association’s interim manager and chief operating officer, Bertrand Perez, confirmed the same stand on news platform CNBC. He reiterated that withdrawal by big names such as PayPal, Visa, and Mastercard won’t endanger the network’s launch proceedings, and they will move forward as planned.
The charter signed in Geneva does not include any banking names even though the twenty-one founding members and signatories do feature prominent institutions. Perez said that the signatories include ‘one Visa’ and ‘one Mastercard’ signifying that the association does have financial partners to carry out the requisite financial activities. These so-called reputable financial companies will carry forward the duties in banking and economic space.
Libra now approaching closer to launch
He did acknowledge the loss of financial partners and agreed that their withdrawal might have an impact on the launch date. The effect won’t be significant, though. He adds that the grand vision of the project and the considerable impact it will have on the lives of the people worldwide means the launch date is insignificant. Even if there are just one hundred members in Libra Association, it will be received with applause.
A similar stand was confirmed by the Libra Association and Calibra chief executive officer David Marcus. He agreed that the departure of a few partners won’t deter the spirit of the project. Such confidence reflects that perhaps one hundred members in Libra Association won’t be a dream after all.
Earlier, The Libra Association announced that more than fifteen hundred companies want to join, and around one hundred eighty of them meet their selection criteria. But there’s a catch! For each new member to join Libra, it must secure votes of fourteen of the original twenty-one members.