Ethereum Founders May Work With Libra

Ethereum founders, Vitalik Buterin and Joseph Lubin came together to comment on the update of their development for their blockchain system. The discussion took place at the Ethereal Summit in Tel Aviv, recently. The Ethereum founders stated that Ethereum 2.0 will be interoperable with applications built on the original blockchain.

At the Summit, Buterin said, “[Ethereum 2.0] is an updated version of the same vision. It’s a sandbox where people can try things and see what works. The thing that has changed are the tools we use.”

Interestingly, Lubin who is the founder of ConsenSys and co-founder of Ethereum expressed their willingness to work with controversy-ridden Libra. He said, “There’s definitely been some talks. There’s the possibility of interoperability with Ethereum if there’s a viable wallet connection. But I don’t see [Libra] being a viable competitor to Ethereum as a decentralized [financial system]. Actually, it could be an excellent onboarding mechanism for us.”

Libra has garnered a lot of support from the cryptocurrency space, given that it has met with stiff resistance from the regulators and government bodies. In August we had reported that Facebook had hired the former assistant to US Senator Mike Crapo, Susan Zook, to lobby for its Libra project. Zook’s focus will be on lobbying Senate republicans. Interestingly, the development comes weeks after the Senate Banking Committee hearing over Project Libra attended by senior Facebook executive David Marcus.

Yesterday we had reported that in order to prove they were sound, Libra representatives would meet with officials from nearly 26 central banks, which will include the Bank of England and the Federal Reserve, in Basel.