Binance Labs Partner Praises Facebook’s Libra Project

A new conference named the Blockchain Week Rome featured Teck Chia, a Binance Labs partner, praising the Libra project. Chia said that Facebook has built a project that acts as a step forward for crypto and is increasing the public awareness.
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As he personally said during the Blockchain Week in Rome:

“I think having a company like Facebook, with such tremendous reach and distribution, into all different countries around the world – having them be interested in cryptocurrency and launching one is a very very positive thing for our industry. It brings a ton of awareness to people who have never heard of cryptocurrency.”

Right now, Binance is one of the largest cryptocurrency exchanges and an influential company in the crypto space. As we can see from the coming altcoin news, the concerns over Facebook’s use of crypto are not seen as an issue by the exchange or its partners.

The Binance Labs partner Tech Chia proved this and remarked that they are one of the 100 founders of Project Libra. As he predicted, Binance and Facebook will be definitely able to work together, adding:

“We naturally will engage with Facebook to kind of see how we can help advance the industry together.”

The Facebook Libra project has been a popular topic in the altcoin news lately – but also a subject to a lot of criticism from everywhere. Whether it’s the governments, the coders or the general public, this criticism is mainly geared to the suspicious use of data by Facebook and from the die-hard crypto followers concerned about centralization. Meanwhile, the Binance Labs partner is certain that the Libra project is in good hands.

As many best cryptocurrency news sites recently noted, the Libra project will be subject of Congressional hearings in July in the US, mostly because of the concerns that the cryptocurrency may pose a threat to security. After briefings on the subject last week, the Representative Emanuel Cleaver II commented the following:

“We’ve seen the significant damage that foreign adversaries and bad actors have wrought on our democracy through Facebook’s platform, and that was simply through messaging and advertising.”

Chia’s commentary also comes on the heels of Gin Chao and his statement that Binance was engaged in official discussions with Facebook – which might be true. Chao then said that Binance was “looking forward to working with libra as much as we can.”