Libra's co-creator cites privacy and regulatory issues as motivations for Libra
David Marcus formally announced Facebook's Libra project in a tweetstorm early Tuesday morning. In the thread, Marcus explained the motivations behind creating Libra and it's accompanying wallet product Calibra. Marcus tweeted:
"One of the reasons for creating Calibra was to have a dedicated, regulated entity that will make strong privacy commitments to its customers as we've heard loud and clear that you don't want social and financial data commingled. We understand we will have to earn your trust."
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