After Facebook announced its plans about launching a cryptocurrency, it faced overwhelming scorn. And now everyone is sceptically tuned that the launch will be at the time Facebook has targeted.
A crypto-futures exchange CoinFLEX is now offering derivatives that payout based on the likelihood will Libra operate by the end of 2020. As Facebook mentioned previously, it plans to launch the currency in the middle of the next year, but it won’t until all regulating institutions are satisfied with its Libra project.
The CEO of CoinFLEX Mark Lamb said: “Facebook can emulate the entire global banking system from the first day, but, because of that fact, when that day will come is not certain. The political backlash has been brutal, and it’s anyone’s guess if Facebook will get this over the line”.
Mark Zuckerberg didn’t answer the direct question about the launch in 2020, instead, he said: “Obviously, we want to move forward at some point soon. Right now I’m focused on making sure that we do this well”.
Bertrand Perez, who is a chief operating officer of the Libra Association, said in an interview that the corporation could not say it won’t issue the coin in 2020, but it could not mention the accurate date of launch either. He mentioned that it mostly depends on regulators and discussions with them.