Dante Disparte, vice chairman of the Libra Association, said he wasn’t worried about the project’s recent high-profile departures just two weeks after Vodafone became the latest name to drop the proposed digital coin.
Speaking to CoinDesk at the World Economic Forum in Davos last week, Disparte said the Libra project is gaining momentum despite the huge regulatory opposition to the project and the departure of several of the association’s original supporters, namely Mastercard, Visa and Vodafone. He also said the door remains open for these companies to return to the project in the future and praised the open source nature of Libra as a means for companies that are not part of the association to continue to develop Libra to participate.
“The technology standard we have built is open” said Disparte. “Regardless of whether an organization is a member of the association or not, there is an opportunity among them to develop on this network without being part of the founding efforts of the project or the management of the project.”
Vodafone pulled out of the Libra Association in January, bringing the total number of early supporters who withdrew from the project to eight. However, while companies like Visa and MasterCard are abandoning the project due to regulatory concerns, Vodafone intends to focus instead on developing M-Pesa, its established digital payment method. The company intends to expand beyond the current six African countries.
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Last week, MasterCard CEO Ajay Banga said he pulled his company off Libra after his attitude towards the project deteriorated due to proposals to link the coin to its own integrated wallet, Calibra, as well as the lack of a clear business model. However, Disparte said last week that “You know, the companies that have left, in my opinion, have a door wide open to future opportunities for cooperation” […] There is zero love lost and we firmly believe that open technology enables future engagement at a later date. “
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