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Vitalik Buterin and Joseph Lubin reveal plans to potentially work with Facebook’s Libra

  • ConsenSys CEO  Lubin said that Libra could be beneficial for Ethereum.
  • While Ethereum 2.0 was discussed, no release date was officially revealed.

Ethereum founders Joseph Lubin and Vitalik Buterin commented on the development of an update for their blockchain system. The discussion took place at the Ethereal Summit in Tel Aviv. The executives reported that Ethereum 2.0 will be interoperable with applications built on the original blockchain. However, they did not give any information on when the network will be released. 

Buterin said: 

“[Ethereum 2.0] is an updated version of the same vision. It’s a sandbox where people can try things and see what works. The thing that has changed are the tools we use.”

ConsenSys CEO Lubin spoke about potentially working with Facebook’s Libra:

“There’s definitely been some talks. There’s the possibility of interoperability with Ethereum if there’s a viable wallet connection. But I don’t see [Libra] being a viable competitor to Ethereum as a decentralized [financial system]. Actually, it could be an excellent onboarding mechanism for us.”

Buterin, though remained silent at the beginning, was affirmative about Facebook’s cryptocurrency, suggesting that facebook should work with Facebook. Buterin said:

“There’s definitely people looking at making a Libra Litecoin that runs on the Ethereum blockchain. I think we should extend an open hand to systems that are more decentralized than we would like.”

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