Jack Dorsey says Libra is not even a cryptocurrency

Jack Dorsey fired on facebook cryptocurrency Libra.In twitter news summit in New York City, Jack Dorsey goes after Libra saying that it’s a gimmick.He also commented that Libra is not even a real cryptocurrency and his company has no interest in it.

When one of the reporter of CNN news asked Dorsey that will his company going to join Libra?.On this question Dorsey clearly rejects the question saying “Hell no, nothing within Libra had to be a cryptocurrency to do what they want to do.They use that label liberally. Its completely incorrect”.Dorsey also proclaimed that Libra association with cryptocurrency is a public stunt.

However Dorsey was not the only one who think that Libra is a gimmick.Riccardo Spagni a cryptocurrency also stated that Libra cannot be proclaimed and it will be a thing of great dishonesty to call it so. Spagni gave a long statement to mashable,

“Not to put too fine a point on it but from a technical perspective there is a great difference between Libra consensus mechanism deciding if your transaction is worthy of inclusion and Visa alone deciding if your transaction should be processed it’s central banking by other name a permissioned central banking committee instead of a government appointed one”.

These statements of some honourable people’s suggest that facebook have a lot of work to do with its cryptocurrency for Libra’s universal acceptance.

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