Facebook Libra: Are you delayed by the corona virus?
Probably last year when Facebook announced its plans to launch Libra, a regulatory war and a terrible pandemic that would stop the world were unlikely. Will the Libra be delayed by the corona virus after all the fighting?
Regulatory pressures and political setbacks have put the Facebook Libra in its worst nightmare. But now, like in the rest of the world, the plans are full of uncertainty.
Facebook Libra suffers from coronavirus
Covid-19 has hit the world equally badly, completely ceased activities in many countries and claimed too many lives.
In this way, most of the projects were paralyzed as a result of the pandemic, as it is not known exactly when the virus will be transmitted.
Obviously, this has had a huge impact on people’s lives and even on the global economy.
As a result, Facebook is not expected to flee the effects of the pandemic in a way that regulators cannot. This is the most likely way that the corona virus will slow down the scale.
And the pandemic came at the time when Facebook and its partners were considering making changes to the Libra project under the supervision and political control of the world.
Note that the Libra Association claims to have founded Facebook to monitor the cryptocurrency. It is based in Geneva, Switzerland.
Switzerland, like many other countries, has therefore taken measures since the number of cases observed has risen rapidly. Accordingly, they are asking people to stay at home, not to mention that the Federal Council has banned major meetings for five people.
In Switzerland, 10,714 people are currently infected and 161 people have died from the coronavirus. The Federal Council therefore urges people to stay at home if they have any of the symptoms.
Also keep in mind that Libra Association members also fight adversity. Therefore, the corona virus can negatively affect the scale on Facebook.
We will help fight the corona virus!
Thanks to an effort led by Facebook, some members of the Libra Association have also decided to take on a project called “The Zeal Alliance for Prosperity“”
According to the Bloomberg announcement, the project is supported by Coinbase Ventures, Andreessen Horowitz, Mercy Corps and Bison Trails Co., among others.
It will also aim to help overcome COVID-19 by providing humanitarian aid, facilitating payments, and even granting microcredit through Celo Dollars.
So the Libra can be delayed by the corona virus, but is it really surprising?