If you thought that Facebook’s Libra coin was going to get announced without any controversy you were DEAD wrong.
People have been claiming a lot over this past week but the most recent claim comes from the fintech firm Current, who believe that the social network has stolen the design for their upcoming stablecoin Libra.
The ex-Wall Street trader and now CEO of Current, Stuart Sopp said that he sought out the help of a San-Francisco based design firm called Character to help create the logo for his firm in 2016. This same company apparently worked on Facebook’s new venture, which was only unveiled three days ago.
If you take a look at the two logos you can definitely see the resemblance. To be honest it’s almost uncanny how much the two look alike.
See the differences here.
Current tweeted out following the announcement taking a dig at both Character and Facebook simultaneously:
this is what happens when you only have 1 crayon left pic.twitter.com/2JY5JfesQD— Current (@current) June 19, 2019
The big thing worrying people about Facebook’s cryptocurrency is that of trust. This logo fiasco is just one reason for going against Facebook. Whether the likeness of the logo was intentional or not, you would have thought a firm with tens of billions in annual turnover would have done their research.
Personal data is a big issue with Facebook too, less said about that the better…
The thought of what Zuckerberg is going to do with a stablecoin accessibile is both haunting and exciting. What will it be used for? How will it be manipulated? Will adoption increase?
Bloomberg summed it up in one sentence, saying:
“More than 2 billion users spending one currency, controlled by one billionaire. What’s to worry about?”