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Vodafone decided to leave the consortium - Binaryx

Vodafone & Libra – It’s Over

Why did you need to leave the Association? The main reason for the emergence of a large mobile communications organization was the decision to switch to the needs and development of their organization directly, namely to focus on the digital payment M-Pesa.

Representatives of the cellular company themselves have repeatedly drawn attention to the fact that their goal is to contribute to expanding financial accessibility, which they will be able to achieve faster with the help of leaving the Association, especially thanks to the services provided by Libra, which they will continue to use.

After all, Vodafone is a famous company that cares about its reputation and thinks about development prospects, which in fact, will bring them a more significant advantage since M-Pesa will allow you to send, receive and store money transfers safely and efficiently through your smartphone. This is also convenient because it allows enterprises (currently in Africa) to collect payments, make purchases, and even pay wages. The plus is that it helps governments collect taxes and pay social security benefits.

Vodafone care has nothing to do with any personal reasons, either because they considered such a connection unprofitable and unreasonable, or problems with regulators, due to which such well-known popular companies such as PayPal, Mastercard, Visa, Mercado Pago, eBay, Stripe left the Association and Booking Holdings. But even though many companies managed to get out of this project, Vodafone itself categorically does not refuse further cooperation with the Global Payment System.

Libra Won’t Give Up

Despite so many losses for the Libra Association, they accepted such a statement with dignity. They emphasized that they guarantee the stability of the payment system of their organization. 

Members of the Swiss Association are various organizations from around the world. Each Founding Member of this organization operates a validation node. These nodes comprise the network that provides the Libra Blockchain. One of the objectives of the Association is cooperation with the community, collaboration, research, and preparation for further transition to the network without permission. As was previously known, already seven companies left the International Society, for a completely different reason, after which Vodafone joined these companies.

Some of the emerging companies, such as Mastercard and Visa, cited “regulatory expectations” as the main reason for this action.

According to the statement of the representatives themselves, they decide that from the beginning of 2020 they will expect new companies for cooperation (where about 1,500 companies are currently on the waiting list)