Vitalik Buterin: Libra has little in common with cryptocurrencies

Ethereum creator Vitalik Buterin spoke about the upcoming launch of the Telegram Open Network (TON) and the digital currency Libra from Facebook in an interview with BLOCKTV.

"Libra has something that existing blockchains don't, which is access to 2.5 billion users. Existing crypto systems have something that Libra doesn't, which is a kind of credible claim to commercial and political neutrality. ”- @VitalikButerin

EXCLUSIVE: https://t.co/5D3l0o5cvp pic.twitter.com/jcvsoxRgM4

– BLOCKTV (@BLOCKTVnews) September 15, 2019

In his opinion, these events testify to the relevance of the concept of digital assets.

“Libra has shown many that cryptocurrencies are something real. This is what will exist in the long run. Existing institutions must be prepared for this. ”

Buterin called access to a wide user base the main advantage of Libra, but so far the project has not managed to gain the trust of either regulators or business.

At the same time, Libra has little in common with the idea of cryptocurrencies, since this is not about decentralization, the founder of Ethereum emphasized.

In an interview with Globes, he also said that Libra will not provide sufficient privacy and does not strive for this.

TON developers will have to do "a lot of work in the field of technical and public testing," Buterin said.

“This [TON launch] is definitely worth watching, but at the same time, it’s important to remain realistic about what is possible in these areas.”

Blockstream's director of strategic development, Samson Moe, in response to this statement, noted that he most likely doubts the Ethereum blockchain.

I have doubts regarding the Ethereum blockchain. https://t.co/ePRU2NSDL4

– Samson Mow (@Excellion) September 16, 2019

Earlier, Mou called Ethereum a "technological dead end."

Recall that earlier this month Vitalik Buterin expressed confidence in the prospects of launching the zero phase of the transition of the Ethereum ecosystem to stage 2.0.

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