ShapeShift could be integrating Facebookâs Libra in the near future, Erik Voorhees said.
The Shapeshift CEO commented on Facebookâs cryptocurrency project from a personal perspective at the Bitcoin2019 event, declaring that even though Libra doesnât exist yet, thereâs a space for it in his platform.
âItâs too early because it doesnât exist yet but I would love to integrate Libra into ShapeShift when it does exist,â Voorhees said.
The cryptocurrency and blockchain entrepreneur explained that his interest in Libra depended on how well the project would work.
âThe really interesting thing about Libra is what rules are based on it,â he said.
Voorhees also had a few concerns, pointing out that what its presented in Libraâs white paper could change when the project actually launches.
âSo, fundamentally itâs based on a relatively decentralized worldview, but that could be very different when it actually launches versus whatâs been reported,â he said.
He also assessed the control Libra could give to users from a technical aspect.
âWe will see how freely it can move. For example, does someone need permission to integrate it into something?â Voorhees asked.
Libra could also serve as a way to usher in broader bitcoin adoption.
The entrepreneur explained that Libraâs value could surpass the dollarâs, making it a more attractive form of payment.
âIâm very excited that Libra isnât just on a one-on-one parity with the dollar,â he said.
Voorhees also said that Libra could make Facebook users more open to digital currencies.
âOne of the effects is that people, specially Americans, will start to get more comfortable with a coin that is a little bit more powerful versus the dollar,â he said.
On the other hand, the use of Libra is also a way for new users to get into bitcoin and to get used to price volatility.
âItâs price will vary, but nothing like bitcoinâs,â he said. âPeople will realize that is OK to have an asset that moves, and indeed there isnât an asset in the world that doesnât move.â
Image via Consensus archivesÂ
