Congressman Warren Davidson Says Facebook Should Use Bitcoin Over Libra’s Stablecoin
Remember the Congressman who called out ‘shitcoins’ during the preliminary hearings of Libra and distinguished Bitcoin (BTC) from the rest of the altcoins? Probably not.
Well, Warren Davidson, a Republican candidate from Ohio, has been at the forefront of praising Bitcoin on the floor of the house and a vocal advocate of the industry outside the House.
Bitcoin a Better Option than Libra
According to an interview on Noded Bitcoin podcast hosted by Pierre Rochard, Davidson suggested Facebook should look to integrating Bitcoin (BTC) on it's platform instead of creating the Libra token.
Since announcing the launch of the token, a number of regulatory authorities are looking to halt the development and use of the crypto in their countries including India, France, Germany and the United States.
American Congressman, Warren Davidson chooses Bitcoin over Libra (Source: Noded Bitcoin Podcast)
According to the congressman, Facebook’s influence is a major worry for the Libra project following the recent data breaching issues the company faced in 2018. Furthermore, Rochard questioned Facebook’s operational activities claiming that Libra faces some challenges. He further explained,
”Facebook already filters content — some people say with bias, some people say it’s great, they’re protecting my safe space […] So do we want filtered speech or free speech? Do we want filtered transactions or freedom?”
Davidson further supports the claim that a privately owned decentralized cryptocurrency like Libra may cause problems for the monetary systems and governments.
Tough moment for Libra Association
The past month has not in any way been easy for Libra Association – first, regulators from France and Germany called on increased regulation on the token, four payment service companies left the Association and a number of influencers are speaking against the development of the coin.
On Monday, the remaining 21 members of the Association met in Geneva, Switzerland to sign the charter solidifying the development of the platform.