Libra Vice President: Bitcoin Does Not Function as a Means of Payment

The vice president of the Libra association, Dante Disparte criticized Bitcoin, saying that the first cryptocurrency does not fulfill its main functions and cannot be considered a means of payment.

“Bitcoin as an asset class has proven that mathematical scarcity can support an incredibly exciting asset. It’s not a means of payment. It just isn’t.” Dante Disparte, vice chairman of the Libra Association, said on Digital Money Forum.

He believes that the Libra stable coin project will solve the main problem of cryptocurrencies – mass adoption.

In response to this statement, Decred Project Strategy Director Akin Sawyerr answered:

“I’m not convinced that a council of self-interested companies can do money better than a decentralized system. The only way to really get there is to empower the individuals to have some base-level sovereignty.”

Disparte said it was too early to talk about the development of the cryptocurrency industry on a large scale. He added that it is unfair to talk about “a crypto purity test” with respect to the Libra coin, as long as digital currencies are not a scalable payment system.

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