By CCN Markets: A lot has already been said about Facebook’s Libra cryptocurrency and its ambition to disrupt the finance world. But what about the blockchain technology that powers it?
Blockchain experts have poured over the technical documents and played with the Libra protocol testnet. Suffice to say, they’re not convinced about Libra’s claims.
Facebook launched the Libra protocol blockchain testnet on Tuesday, but experts aren’t convinced. Source: Libra
“A disaster in slow motion”
Bitcoin developer Tamas Blummer offered the most damning assessment of the Libra protocol. He said Facebook is abusing its position to muscle into the blockchain world.
“Trying to buy leadership in a cutting edge technology is very expensive and likely futile. I am pretty certain that this will be a very expensive failure, but a great door opener for Bitcoin.”
Read the full story on CCN.com.