Facebook CEO Mark Zuckerberg stated his company is in for the long haul and will do what it takes to assuage regulators’ worries about Libra. Zuckerberg made the announcement during a recent conference call to discuss Q2 results.
The Facebook co-founder admitted during the conference call that Facebook would have just rolled-out a new product without any warning a few years ago. However, the company has undergone changes.
However Long It Takes
Zuckerberg explained that now, the company has entered a waiting period and that it is willing to wait and work “however long it takes” to address the concerns of regulators and to answer the different questions asked by experts and constituents. Facebook would then try to come up with the best move forward.
The 35-year-old technology entrepreneur also noted that when Facebook began working on the Libra white paper with the other members of the Libra association, they expected a lot of questions would be raised about the stablecoin project, particularly since there are strong regulations surrounding finance.
Zuckerberg assured conference participants that Facebook is now working to answer those questions. He also gave reassurances that the company is striving to develop a secure and stable product. He also added that that has always been Facebook’s strategy and that they’ll continue to be engaged.
Finally, the young philanthropist also underlined the numerous projects the company currently has in the pipeline, like the Facebook Marketplace, Instagram Shopping, and Whatsapp Business. The Libra stablecoin is just the one that has attracted the most attention.