The launch of the cryptocurrency Libra announced by Facebook earlier this week has prompted many discussions about the future of finance, particularly the role of cryptocurrencies. The project has grabbed the attention of regulators all over the world, most of them calling for the project to be delayed or even scrapped.
In the crypto space, some experts have expressed their disapproval over a big tech company entering the area, while also acknowledging that the launch of Libra could be a tipping point in the history of blockchain.
On the latest FinancialFox, crypto PR guru Stefania Barbaglio interviewed On Yavin, CEO and founder of Cointelligence about his views on Libra. He is an angel investor and serial entrepreneur with more than 20 years of experience in the tech industry. A leading authority on cryptocurrency, he is also a data-driven strategist.
“The new Facebook coin is a fake cryptocurrency. They are calling it cryptocurrency because it is a buzzword. It may be a digital currency, but it is not a cryptocurrency. It is a crap coin,” says On Yavin.
“I think that the positive side is that Libra will get so many people introduced to the new generation of digital payments and some of them will want to learn more about real cryptos like Bitcoin and Ethereum,” says On.
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