April 20, 2020 | AtoZ Markets – Facebook appears to be unfazed by the unrelenting criticism and pressure that is piling on to its crypto domination aspirations. According to The Irish Times report, the social media giant Facebook is looking to hire up to 50 people in Ireland for its controversial cryptocurrency project Libra. Earlier Libra Association had announced changes in the white paper of Libra.
Libra has been a subject of debate among world regulators since Facebook announced the project back in June 2019. The company insists on launching the project sometime this year.
Libra Association is actively hiring experts in various fields to help with the project
Laura Morgan Walsh, head of operations at Calibra, said that in the time of global uncertainty, they are continuing to invest in the team located in Dublin.
“We’re actively hiring experts in fraud, compliance, workforce management, and customer care to expand our operations team supporting the Calibra wallet,” he added.
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The news comes days after the company revealed several changes in the crypto project.
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Libra makes changes to its white paper
Libra Association unveiled a host of new changes to its proposed stablecoin project. Some of the changes included the development of a series of single-currency stablecoins alongside a multi-currency one. The association further revealed that the project would also transition its network from “permissionless” to a “market-driven open and competitive” network. Facebook revealed that it contributes less than 10% in the project.
Since Facebook announced the project back in June 2019, it has faced harsh criticism from the world's financial regulators. Some of them have even announced that they would never allow Facebook to issue its digital currency in their country.
Facebook CEO Mark Zuckerberg had to testify before the US Congress to defend the cryptocurrency project. Several notable partners also withdrew from the project earlier this year, including PayPal, Mastercard, Visa, and many others. However, Shopify, one of the world’s heavyweights in e-commerce, has announced that it will join the Libra Association.
Related: Tagomi Puts its Support Behind Facebook's Libra' Cryptocurrency
As a result, Facebook is determined to launch the cryptocurrency project before the end of this year. Regulators had shown concern about how Libra could threaten the financial sovereignty of a country.
Do you think the Libra will be regulated by the U.S. government? Share your thoughts in the comments section below!