Calvin Ayre Predict’s Facebook’s Libra Would Be Forced To Have nChain Portfolio
With the announcement of Facebook’s crypto project Libra, it seems like everyone wants to join the tech giants on their new venture. The list includes Mastercard, Visa, PayPal, Stripe, eBay, Uber, Lyft, Spotify, Coinbase, Xapo, Andreessen Horowitz, Union Square Ventures, Mercy Corps, and Women's World Banking, among others.
The shrewd head of nChain Calvin Ayre also wants in on the action. He might be doing for some publicity and get into the recent news cycle, but it seems to be working.
He draws this conclusion from the recent Congress reaction to the announcement of Libra. Democratic Rep. Maxine Waters was quick to weigh in on Facebook’s plans, and she doesn’t seem to be a fan. She called it unchecked expansion” by the tech giant, and she went so far as to ask Facebook to stop work on the project and come in to show.
There is increasing bipartisan support for Waters calls for more testimony and regulation on Facebook. She’s joined by Republican Rep. Patrick McHenry, who earlier wrote:
“It is incumbent upon us as policymakers to understand Project Libra. We need to go beyond the rumors and speculations and provide a forum to assess this project and its potential unprecedented impact on the global financial system.”
nChain is a fintech company specializing in cryptocurrency software development and research. They are global leaders in advisory, research, and development of blockchain technologies. Ayre hopes that Facebook uses its advisory services t lobby against the bipartisan support of Congress, however, this partnership is highly unlikely to be seen.