The Open Libra blockchain community is on a mission to ‘tell better stories’
Open Libra aims to build a platform “aligned with humanist values” in a permissionless, open-source, non-corporate environment.
Blockchain platform Open Libra — an open-source, layer-1 platform that started off as a fork of the original Facebook project known as Libra and Diem — is on a mission to develop a blockchain platform that can serve humankind without submitting to the demands of venture capitalists.
Traditionally, blockchain technology has been positioned as revolutionary. Innumerable case studies and testimonials have illuminated its ability to upend traditional financial, technological and corporate dogma through the practical application of an immutable, digital ledger.
However, not all blockchains are built, operated, maintained and guided in the same way. While the majority of the cryptocurrency and blockchain industry has shifted toward corporate infrastructure and adherence to the Silicon Valley startup status quo, some projects believe technology can be developed with a community at its head instead of a CEO or corporate board.
Zaki Manian, an Open Libra Network contributor, spoke with Cointelegraph in an interview. He described the Open Libra project as “a reaction to the corporate nature of modern blockchain.”
Manian explained that Open Libra Network was started around three years ago by a passionate team that wanted to build a solid, open-source blockchain that could grow with its community.
One of the main tenets of Open Libra is that it’s been developed without the aid of VC funding. Manian said this allows the project to “think on a long-term basis,” as it’s not beholden to demands from financial backers to provide a short-term return on investment.
According to a spokesperson for Open Libra Network:
“About 80% of the network is locked up in community slow wallets that become liquid over time, and a large fraction of tokens are held by established not-for-profits with strong social missions like the Danish Red Cross.”
Ultimately, Manian envisions a future for the project where the community drives both its value and utility. He says part of the goal is to create something that allows the community to “tell better stories” as they create new use cases.
Rather than treating assets strictly as money, Manian said that owning an asset on a blockchain is synonymous with having a vote. In this way, the Open Libra community has the deciding votes when it comes to the project’s future.
As Manian told Cointelegraph:
“What we're trying to do when we say ‘the best asset’ is to try to create an asset that is widely aligned with humanist goals, that a wide variety of people would want to ‘vote’ for over a long time.”