Speaking to Cointelegraph at Blockchain Week in Rome, Teck Chei, partner at Binance Labs, said he sees the Facebook Libra project as a step forward for crypto and an increase in public awareness.
In Chei's own words:
"I think having a company like Facebook with such enormous reach and distribution in all countries of the world – being interested in using cryptocurrency and launching one is a very very positive thing for our industry. People who have never heard of cryptocurrency will be properly informed. "
Binance is currently one of the largest crypto currency exchanges in the world. Binance Labs is the venture of the company.
Regarding concerns about the use of crypto on Facebook, which represents a step towards centralization, Chei noted that they are one of 1
Binance and Facebook will be able to work together. Chei predicted:
"Of course we will work with Facebook to find out how we can move the industry forward together." use and inveterate crypto followers who care about centralization.
In the United States, the Libra will be the subject of Congressional hearings in July, raising concerns that the cryptocurrency of the Libra poses a threat to security. Following a briefing on this topic last week, Representative Emanuel Cleaver II reportedly stated:
"We have seen the significant damage that foreign opponents and bad actors have inflicted on our democracy through the Facebook platform, simply through news and advertising.
Chei's comment follows Gin Chao's statement that Binance was involved in official discussions with Facebook, Cointelegraph reported June 28. Chao said Binance "is looking forward to working with Libra as much as possible" .
Early in June, Binance announced that the Exchange will discontinue customer care in the US in September, as they are configuring a platform for the US