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Will Facebook’s Libra build a truly open system? Or will it end up as permissioned system?

An uproar was witnessed in the cryptocurrency ecosystem long before Facebook officially released the whitepaper for Libra, which is supposed to be a global cryptocurrency. Whether this will be an open system or become a permissioned system, is still unclear. Muneeb Ali, CEO, and co-founder of BlockStack spoke to CNBC about his thoughts on Bitcoin and media giant, Facebook’s Libra, and how they will fare in the future. Ali, referring to the Libra and its development ideas that people are coming up with, said that the initial models have started to pop up, which “may be true or not” but also added that it might catch on “once enough people start using these models.” Ali stated: “I’m on the side of Bitcoin but I am also cautiously optimistic about Fa...