IBM’s Ready To Put Its Blockchain Building Skills To Work Alongside Facebook’s Crypto Libra
The tech giant IBM has recently affirmed that it would be open to cooperate with Facebook on its famous Libra project. According to Jason Kelley, the general manager of IBM, the company is currently looking for ways to collaborate more with the blockchain space.
IBM’s general manager affirmed that the blockchain space is a “team sport” and that its clients are ready to work with Facebook and bring its projects together to achieve better results. IBM has already created its own blockchain technology, so the company is no newbie when it comes to dealing with it.
What Kelly did not make clear was whether IBM wanted to be a part of the Libra Association or if he was talking about another kind of cooperation between the two companies. The Libra Association is a group that will serve as the validators of the Libra network. It includes several important companies such as Mastercard, Uber and Airbnb.
When talking about the Libra project, Kelly distanced it from the idea of “cryptocurrencies”. According to him, Libra was all about “tokenization”. The difference, he believes, is that tokenization helps to digitize assets that have actual value outside of the digital world.
Despite IBM’s eagerness to support the project, Libra is being criticized heavily by regulators all over the world. Facebook is currently lacking the approval to launch it in most countries, so the situation of the Libra is far from good while the company is not able to solve these problems.