Paypal was the first to pull out of the Libra project. Now we have Visa, Mastercard, eBay and Stripe following suit.
The Libra Association started with 28 members and its membership now stands at 23. Many of the big names who gave credibility to the project have now withdrawn from the Association.
In our opinion, the bad reputation of Facebook in its business practices is a major factor standing in the way of the progress of the Libra project. There is a huge trust deficit.
Assuming Facebook was known to be ultra strict with its user data and has cared for the welfare of people as much as it cared for its profit and had established a reputation for the same, it would not be facing the kind of objections it is facing now.
