Bitcoin (BTC) has been a controversial issue since its inception, more than 11 years ago. Yesterday, the cryptocurrency theme appeared during the Consumer Electronics Show (CES) 2020 in Las Vegas. The subject was taken up by the vice-president of the Libra Association, Dante Disparte, who publicly spoke out against the cryptocurrencies. In his opinion, Bitcoin is not a means of payment at all.
Bitcoin is worse than Libra?
In his opinion, Bitcoin is not a means of payment. Apparently, that’s what made him decide to become vice president of the Libra Association at all.
However, this is worth emphasizing: Disparte is not the enemy of the crypto. He is only of the opinion that Bitcoin is not able to solve the problems that his creator, Satoshi Nakamoto, decided to solve. He doesn’t believe that BTC can achieve mass adoption, it’s simply not the right solution for the demands of the global market.
Libra can’t do it!
On the other side of the barricade, however, we have, for example, an expert from Decred, Akin Sawyerra, who thinks it is quite different, while the Libra Association itself is basically a group of companies that operate on a pure profit basis. They believe that the world’s population needs a new form of payment that could do what banks cannot. He adds, however, that Libra will not be able to do better with money than the decentralised system that has survived the last 11 years even against the will of those in power.
Sawyer argues that the only real way to help the financial world is to empower individuals and give them sovereignty over their currencies.
Many people share the latter view, because banks have proven time and again in their history that centralised institutions can no longer be trusted. After all, it was they who caused the recent financial crisis that provoked Satoshi Nakamoto to create BTC and blockchain.
As far as the Libra Association itself is concerned, it already faced its own internal crisis in 2019, when many companies decided to leave the project. Some of the biggest brands, such as Mastercard, Visa, and even PayPal, have resigned from co-creating Libra.