STOCK MARKET BSE NSE

Hell no! Twitter will never join Facebook's crypto payments scheme Libra: Jack Dorsey

Recently, a battery of US lawmakers bluntly told Facebook CEO Mark Zuckerberg in a hearing to address his existing failures first before launching the digital currency Libra.

Published: 25th October 2019 05:50 PM  |   Last Updated: 25th October 2019 05:50 PM   |  A+A-

For representational purposes.

By IANS

SAN FRANCISCO: Microblogging site Twitter will never join Libra, CEO Jack Dorsey said at a company media event in New York City.

Dorsey replied with a conclusive "Hell no" to the question of its potential membership of the Fcebook-led crypto payments scheme, The Verge reported on Thursday. He explained that Libra is not based on an open standard, born on the Internet.

"It's not an internet open standard that was born on the Internet. It was born out of a company's intention, and it's not consistent with what I personally believe and what I want our company to stand for," said Dorsey.

Recently, a battery of US lawmakers bluntly told Facebook CEO Mark Zuckerberg in a hearing to address his existing failures first before launching the digital currency Libra.

In a six-hour grilling at a House Financial Services Committee hearing on Wednesday, both Democrat and Republican lawmakers expressed dissatisfaction with Facebook's cryptocurrency plans.

The hearing was focused on Libra, a cryptocurrency Facebook plans to launch in the first half of next year.

Despite some top-notch firms pulling out, Facebook and 20 partner organisations have formally launched the digital currency Libra project.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp