Specifically, during his speech at the Web Summit in Lisbon on November 5, Kevin Weil – VP in charge of product for Facebook’s Calibra crypto wallet division – strongly noted that Facebook’s Libra will be built around the primary concept of interoperability – the key foundation upon which email was created.
Noting that Libra allows for whichever global engineer or entrepreneur to design its wallets, Weil recommended experts in the industry to join hands in building interoperable protocols.
“You and me don’t have to collaborate on which email provider we are going to use before we send each other an email. We don’t have to choose which browser we are going to use tailored to which individual website you’re going to go to. These things are protocols, and as long as you build to the protocol everything’s interoperable. Libra is the same way.”
Taken into account the roughly estimated time of arrival of Libra, Weil believed this has been “journey of years and decades.” He further believed that the viral feature will not be repeated for Libra as Facebook experienced, and the financial information on Calibra will be kept separately from users’ social data on Facebook.
He further expressed that Libra should have been rolled out in 2017, during the major crypto bull run for better growth. Nonetheless, this is the second-best occasion for the launch, according to Weil.