perspectives

Why We Believe in Libra

We joined the Libra Association in October of 2019 as an initial member because we see the potential to drive massive adoption of crypto around the world.

Bison Trails
Why We Believe in Libra

Apr 24 2020 By Joe Lallouz

Bison Trails’ mission is to provide secure infrastructure supporting multiple protocols for network participants, to strengthen the entire blockchain ecosystem, and democratize access to the decentralized future. We joined the Libra Association in October of 2019 as an initial member because we see the potential to drive massive adoption of crypto around the world.

More importantly, we believe that accessible payment systems built on innovative blockchain technology can address real issues such as the cost and slow speeds of international money transfers. The Libra Association—as both a member-driven organization headquartered in Geneva and as a ground-breaking payment system is well-positioned to enable greater participation in the global financial system for some of the estimated 1.7 billion adults who remain “unbanked without an account at a financial institution or through a mobile money provider.”1

The Libra Association’s progress this year is truly noteworthy: the Libra payment system will now include the option of single-currency stablecoins, along with the multi-currency Libra Coin. This design change enhances the utility of the Libra payment system and means it will be more accessible in countries around the world with greater support for a range of domestic use cases.

Believing that financial inclusion and innovation do not come at the expense of compliance, the Libra Association continues to develop a robust framework on combating illicit activities, among other risks to the system. All of the project’s design changes are detailed in an updated whitepaper.

Remaining a fully permissioned blockchain network will require the protocol, and the Association’s governance, to be representative of the diversity of its member organizations. We believe the best outcomes on projects of this ambitious scale are achieved through open and transparent collaboration, when groups of mission-aligned participants collectively govern and secure the network. Every single member of the Association has the same voting rights, and shares equal responsibility for governance and securing the network by running a validator node, including Bison Trails and Facebook. All members have the same standing.

Bison Trails is excited to see the growing developer community’s open source contributions to the Libra blockchain. Engagement with a global developer community is an essential ingredient for a protocol’s success.

We are energized by the Libra project’s momentum. Bison Trails is honored to be one of the few crypto-native initial members of the Libra Association, and we remain humbled to collaborate with leading technology companies, forward-thinking social impact partners, and marketplaces with global reach, to realize Libra’s vision.

—Joe Lallouz, CEO of Bison Trails


Joe Lallouz, CEO of Bison Trails

About Joe Lallouz

As CEO of Bison Trails, the pioneering blockchain infrastructure company democratizing access to emerging networks, Joe leads a diverse team of experienced engineers and protocol experts who are deeply committed to securing and building distributed systems. Since December, 2019 Joe has served as one of five elected members of Libra’s Technical Steering Committee, bringing valuable expertise to the project, while overseeing and coordinating the technical design and development of the Libra payment system.


Bison Trails: Pioneering Blockchain Infrastructure™

Bison Trails is an Infrastructure-as-a-Service company, based in New York City, specifically focused on blockchain participation. We’ve built a platform for anyone who wants to participate in new chains effortlessly (e.g. by running Cosmos Validators, Tezos Bakers, and Libra Validators, etc.)—without having to invest time and resources into developing any of the engineering, protocol, dev ops, or security competencies in-house. Our goal is for the entire blockchain ecosystem to flourish by providing robust infrastructure for the pioneers of tomorrow.


Footnote


  1. 1 https://globalfindex.worldbank.org/