Opinion: Libra adoption could stretch for decades

Vice President of the Calibra project Kevin Weil at the web summit of one of the largest European technicalThe conference noted that the company continues to fight for its new financial product.

According to him, Zuckerberg believes that the launchThis project may take years, if not decades, and that this will require a long journey of coordination and negotiation with regulatory authorities. After a three-hour interrogation in the US Congress last month, Zuckerberg said he would not act until regulators approve the project.

Facebook hopes to develop a new ecosystem around Libra, where everyone can create financial products that are not controlled by any one commercial organization, even Facebook. Vale said:

Some people are reluctant to use a financial product created by Facebook.

However, technical work on Calibracontinues. Vale admitted that he already has a prototype of the application installed on his phone. Zuckerberg and the engineers developing the Libra wallet see it as a project “to bring cheaper banking services to the world. Vale added:

At Calibra, we are inspired by the opportunity to provide financial services to more people around the world and their cost.