Andreas Antonopoulos Announced the Collapse of Facebook’s Libra

One of the most prominent representatives of the cryptosphere, Andreas Antonopoulos, believes that the Libra project, which Facebook is working on, is doomed to failure.

He announced on BlockTV that the holders of the Libra token will not be able to use the services that are now available to customers of ordinary banks. In addition, stablecoin (although it will become the first corporate digital asset) will in fact not possess the characteristics inherent in Bitcoin or other blockchains.

The Libra platform will be centralized, transactions will be regulated and verifiable. That is why most representatives of the cryptosphere will refuse to use this digital asset.

The ambitious project of Facebook, despite all the efforts of the team of Mark Zuckerberg, expects a complete failure in terms of competition.

Recall that last summer, when it was first announced its intention to issue the Libra token, Andreas Antonopoulos emphasized that this crypto project will only be able to compete with the banking sector, and it is not able to supplant BTC.

Author: Marko Vidrih

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