Libra Appoints Technical Steering Committee, Governance Framework Coming In Q1

    Libra finally launched its dream team of five to steer the company’s Technical Steering Committee (TSC), which is set to oversee the development of the Libra project and guide through its roadmap.

    Libra Association has been on a back foot since the Congressional hearing of Facebook Inc.’s CEO, Mark Zuckerberg, in Q3 2019. However, the company has continued its development of the Libra project and the first step in sourcing their technical team was successfully completed on Thursday. According to an official announcement from Libra released on Jan. 16, the Association (made up of 21 partners) voted for the formation of a Technical Steering Committee (TSC).

    The Association selected five members of the board including Anchorage Co-Founder and President, Diogo Monica, Libra Core Product Lead at Calibra, George Cabrera III, Joe Lallouz, CEO and Founder at Bison Trails (a blockchain protocol-agnostic infrastructure platform), Nick Grossman, Partner at Union Square Ventures and Ric Shreves, Director, Emerging Technology at Mercy Corps. The five officials have a unique perspective and vast expertise bringing essential skills to the table.

    Among the array of roles that the TSC would handle would include directing the technical roadmap for the Libra Network, form Technical groups to fast track research into selected specific issues, guiding the codebase development while maintaining a healthy and engaged Libra developer society.

    Regulatory Crunch

    The Libra TSC before the end of first quarter 2020 is planning to publish a governance framework. With Libra projected to launch in 2020, they have been faced by a regulatory crunch that might force them to postpone the launch as the Facebook CEO stated late last year.

    “Even though the Libra Association is independent and we don’t control it, I want to be clear: Facebook will not be part of launching the Libra payments system anywhere in the world until US regulators approve.”

    The latest move to exclude Libra from the 2030 plans of Facebook is also raised concerns on the future of Libra.

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    Lujan Odera
    Lujan Odera
    Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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