Libra Association Adds Blockchain Capital as a New Member

San Francisco-based Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term Capital has become the latest member of the Libra Association to support the consortium’s attempt to launch a Stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including Read this Term for the Facebook ecosystem.

The venture capital has become the 28th member of the Swiss non-profit organisation after it saw an exodus of its original members, including PayPal, Visa, Mastercard, and Vodafone.

“We’re honored to join the Libra Association and believe deeply in the mission of creating a more equitable payment system,” Bart Stephens, co-founder and managing partner of Blockchain Capital, said. “Leveraging blockchain technology to improve financial access and promote innovation has been at the core of Blockchain Capital’s portfolio strategy.”

Established in 2013, Blockchain Capital has stakes in major blockchain and crypto companies, including Coinbase, BitGo, Bitwise, Circle, and Ripple.

“As a member of the Libra Association, Blockchain Capital brings deep industry insight and a dynamic network of supporters as we work on building a blockchain-based payment system that supports responsible financial services innovation,” Dante Disparte, vice-chairman and head of policy and communications for the Libra Association, added.

Can the Original Members Be Replaced?

Facebook revealed its plan to launch Libra in June 2019 and formed the non-profit entity to govern the stablecoin. However, global regulatory backlash forced many of its partners to leave the consortium.

The Libra Association updated its whitepaper earlier this year, changing the structure of the proposed cryptocurrency, but that too failed to appease the regulators.

Meanwhile, the organization continues to strengthen its industry presence and has on-boarded companies like Tagomi, Shopify, Checkout.com, and Temasek as new members.

Finance Magnates recently reported on the appointment of James Emmett as managing director of the non-profit. It also strengthened its leadership by on-boarding Stuart Levey as chief executive officer, Sterling Daines as chief compliance officer, and Stevan Bunnell as the new chief legal officer