OpenLibra keen on releasing permissionless Libra fork

The co-founder of blockchain startup Wireline, Lucas Geiger, has announced OpenLibra a permissionless fork of Facebook’s Libra.

OpenLibra: an alternative to Facebook’s Libra

Reportedly Lucas announced OpenLibra at the Ethereum developer conference. Ethereum developer Lane Rettig took it to twitter to express her excitement about the project.

The developing team at OpenLibra has already launched the first version of the permissionless Libra-based virtual machine. The platform is now available on Github under the title of MoveMint. The platform would operate on the Tendermint blockchain software.

The project has already created a website for the project. According to the website, the project aims at becoming an alternative to Facebook’s Libra with a focus on financial decentralization.

The site stated that although Facebook is facing a tough time in pushing the Libra project ahead, the team believes that Libra would persevere. The website highlighted that regional governments would have little power over a “transnational force,” such as Facebook’s Libra. It added that the team took a different approach by developing OpenLibra.

Facebook’s Libra has been the center of attention since the announcement of its launch and almost never in a good way. The initial response was highly negative, while things continued to go downhill from there. Regulators across Europe, the Americas, and Asia are terrified of the power such a “private economy” would have. Now nations such as Japan and Germany are pushing for a cooperative framework to minimize the risks posed by Libra

OpenLibra’s core developing team is composed of experienced personnel from various well-known projects such as Chainlink, Singapore University, Ethereum Foundation, and Spacemesh, among numerous others.