The prevailing belief is that at some point the inherent contractions in Facebook’s blockchain strategy and the Libra project are going to become too much to overcome. Of course, this assumes that the project launches at all, which is not certain given the regulatory scrutiny it faces around the world. To the point, it is interesting that some of Libra’s first members, including venerated venture capital firm Andreessen Horowitz and crypto-unicorn Coinbase, have invested in Celo. Some of Celo’s other high-profile investors include LinkedIn founder Reid Hoffman and Twitter/Square CEO Jack Dorsey. In a similar fashion to Libra, Celo is at its core a stablecoin platform.

Source: Forbes July 17, 2019 17:00 UTC