Visa Still Interested In the Development Of Libra. Is It a Ray Of Hope For a Return To Cooperation?

1 min reading

Even though Visa withdrew from the Libra Association some time ago, the company's CEO admitted that he was still discussing the project with a social media giant. This, in turn, shows there is a possibility that the cooperation will re-established in the future.

On the 24th of October, an interview with Alfred F. Kelly (the CEO of Visa) was posted on the Varol Economico news portal. The man admitted there that the company still maintains close relations with Facebook. In his opinion, it is cryptocurrencies that are able to provide users with greater security. He also added that the company is open to new solutions, while noting that Visa is going to be involved in all areas related to making payments in order to achieve a satisfactory level.

 

Visa about Libra

Alfred F. Kelly pointed out, however, that full implementation of this project needs much more time. By saying that, he took into account the fact that this is an initiative which must meet regulatory requirements before entering into force. He also mentioned that all members of the Libra Association are in charge of this project, not Facebook itself which initiated it.

The giant of payments cares above all about making money transfers available to all people, including those "unbanked". The interview highlighted that Visa had numerous discussions on this subject with Facebook in order to jointly develop a system that would allow to solve this problem.

"In the conversations we had with the Facebook people, we tried to create something that could bring these people into the system faster."  

- adds Alfred F. Kelly.


Libra's criticism from congressmen

Yesterday an interview with Mark Zuckerbnerg (Facebook CEO) before the US Congress took place. Although it was supposed to mainly concern the social media giant, discussions repeatedly included the Libra project. Many congressmen were critical of Facebook's intentions and although Zuckerberg fought off all attacks, many officials still remain negative about this project.

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Tokeneo TEO OU. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is TOKENEO TEO OÜ (an Estonian law limited liability company) with its registered offices in Tallinn (in the province of Harju Maakond), at 19-7K Maakri Street (in the district of Kesklinna Iinnaosa), 10-145 Tallinn, Estonia, registered on 21.12.2018 in the Estonian Business Register under number 14630242, using the EU VAT number: EE102149487.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.