Description
Open Libra is a permissionless, open-source alternative to Facebook's Libra project, aiming to address the original's issues of closed governance and proprietary control. It seeks to democratize access to financial services, particularly for the unbanked and underbanked populations through a decentralized stablecoin. Open Libra is built on the strengths of the Libra blockchain while ensuring financial and technical compatibility with the Libra coin through non-adversarial extensions. It is focused on transparency, inclusivity, and economic decentralization, with governance open to all rather than controlled by a consortium of corporations. Open Libra is supported by leading entities in cryptography and blockchain, such as the Interchain Foundation and the Danish Red Cross, and provides developers with tools to create dApps on its network. The project criticizes the potential for surveillance finance and value capture by a few within the Libra ecosystem and proposes an alternative that embraces the transformative aspects of the original while addressing its centralization and privacy concerns.
Open Libra is a permissionless, open-source alternative to Facebook's Libra project, aiming to address the original's issues of closed governance and proprietary control. It seeks to democratize access to financial services, particularly for the unbanked and underbanked populations through a decentralized stablecoin. Open Libra is built on the strengths of the Libra blockchain while ensuring financial and technical compatibility with the Libra coin through non-adversarial extensions. It is focused on transparency, inclusivity, and economic decentralization, with governance open to all rather than controlled by a consortium of corporations. Open Libra is supported by leading entities in cryptography and blockchain, such as the Interchain Foundation and the Danish Red Cross, and provides developers with tools to create dApps on its network. The project criticizes the potential for surveillance finance and value capture by a few within the Libra ecosystem and proposes an alternative that embraces the transformative aspects of the original while addressing its centralization and privacy concerns.
