Abstract : Aleks Kuzmanovic said not all of the mainstream companies have the ability to use their own cryptography technology, so they are more likely to experiment some existing blockchain ecosystems.
June 19 (ChainDD) Aleks Kuzmanovic, a professor in the computer science and engineering department at Northwestern University and co-founder of bloXroute Labs, told ChainDD Facebook’s stablecoin project Libra is a breaking event from many aspects. First, this may release a strong signal to other giants and stimulate their similar actions. Secondly, not all of the mainstream companies have the ability to use their own cryptography technology, so they are more likely to experiment some existing blockchain ecosystems.
In terms of technology, Aleks expected blockchain purists and non-purists will find many problems on whether Libra will have enough distributed governance, such as are those technologies Facebook adopts really innovation? Is 1000 TPS enough to ensure scalability? However, Aleks said the key point of Libra is that Facebook can make the stalecoin reach its thousands of millions of users across the world.
Aleks noted under the setting that crypto revolution in the past decade has brought many exciting ideas about what blockchain technology can do, Facebook’s project seems relatively lackluster. But he believes blockchain creates a brand new world full of possibilities, though Facebook didn’t completely open the world’s door, neither had it totally closed it. Experience told us once entering crypto world, one cannot free from it. Therefore, Aleks hopes Facebook will continue innovation in this field and take advantage of its unique position to face huge challenges in crypto space.