The abandonment of the Libra cryptocurrency project by a quarter of the companies that signed the initial agreement of its creation, gives the feeling that the project was deflating. In recent days, seven of the heavyweights belonging to the initial consortium decided to leave the race and give up the Libra association, leaving many doubts about the continuity of the project.

Many of the connoisseurs are waiting for the outcome that will have this story that began last June when announcementthe creation of a stable currency called LIBRA backed by a good number of very important companies and recognized in different business areas and led by Facebook, creating great expectations around this project, which is being news today for the defection of some of its main investors.

Quick reaction

Despite the stampede of members of the association, on Tuesday 21 of the 28 initial members met to sign the constitutive document of the Libra association, implying that the project continues its course. At the same time it was released by the following press release, the formation of the board of directors and the executive team of the association, appointment made at a meeting in Geneva, Switzerland this October 15 .

According to the press release, in addition to Calibra, the association has the following members: Coinbase, Xapo, Anchorage, Bison Trails, Creative Destruction Lab, Andreessen Horowitz, Thrive Capital, Ribbit Capital, Union Square Ventures, Breakthrough Initiatives, Illiad, Vodafone, Farfetch, Uber, Lyft , Kiva, Mercy Corps, Women's World Banking, Spotify and PayU .
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Many interested in entering the project

Despite the abandonment of seven major firms, Visa, Mastercard, PayPal, Booking Holdings, eBay, Stripe and Mercado Pago, who announced their withdrawal from the project a few days ago, the project leaders (Libra Association) have said that there are 1,500 entities interested in forming part of this project, however, only 180 of the applicants meet the requirements demanded by the association to be part of this consortium and are waiting for at least two thirds of the members to approve the entry of the new partners, which gives the impression of a good environment within the consortium.
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The Startup

As many of you know, the launch of this cryptocurrency is scheduled for 2020, however, this date could be postponed, according to announcement Bertrand Pérez, executive director of the Libra association, who affirmed

"We want to build a solid platform that is durable and capable of surviving in the long term"

It seems that Libra will survive this wave of defections, but despite all these announcements, many doubts are generated around this project and many still claim that it is possible that the project is deflating.

What is still unclear is because these recognized companies have decided to announce their retirement from this race and step aside, although some of them revealed fear and concern about the regulatory scrutiny facing Facebook's projected cryptocurrency.

Let me know your opinion about this project and everything that has been generated lately with these ads that moved the entire structure mounted around Libra.