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Binance Labs partner expresses optimism about Facebook signing in crypt with scales



Speaking to Cointelegraph in Blockchain week in Rome, Teck Chei, a partner at Binance Labs, said he sees Facebook's Libra project a step further for cryptography and raising public awareness.

In the words of Chei:

"I think we have a company such as Facebook, with such a huge spread and distribution in all the different countries of the world – to be interested in crypto-roll and to launch one is a very positive thing for our industry. He brings a lot of knowledge about people who have never heard of cryptoLight. "

Binance is one of the largest cryptographic exchanges in the world at the moment.

As far as the concerns about the use of Facebook crypto, which is a step towards centralization, Chei noted that they are one of 1

00 Project Libra creators.

Binance and Facebook will work together Chei predicts:

"We will naturally engage with Facebook to see how we can help the industry together."

The Facebook Scales project has been subject to insignificant criticism both by governments suspicious of Facebook data. also from hard encrypted followers concerned with centralization.

In the United States, Libra will be the subject of congressional hearings in July because of fears that Libra's cryptic will be a threat to security. Following briefings on the subject last week, Representative Emanuel Clive II claimed that

"We have seen the significant damage that foreign opponents and bad actors have inflicted on our democracy through the Facebook platform, and that is simply through messaging and advertising.

Chei's comment comes after Jin Chao's statement that Binance has been involved in official Facebook discussions, Cointelegraph announced on June 28th. Chao said Binance "looks forward to working with the pound as much as we can".

Earlier in June, Binance announced that the stock exchange would stop serving US-based customers in September as they set up a special platform in the United States.


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