BTC Wires

Successful Token Asset Trial On Facebook’s Libra Creates Buzz In The Market

One down, many more to go. The first successful tokenized asset trial has been completed on Facebook’s Libra and it was conducted by United Kingdom-based trading platform eToro.

Sources have reported that eToroX, which is the UK firm’s latest launched project, has been able to debut its eToken on Libra. This is a major news for the industry which has been anticipating the launch of Libra for quite some time now.

A blog post has been released by the firm confirming the results of the pilot. It reads:

“By exploring Libra’s capabilities, and using Move IR (the intermediary representative layer of what will eventually be the final programming language), they successfully managed to implement an initial version of eToro tokenized assets on the Libra Network.”

A few days ago BTC Wires reported that Facebook-led Libra’s White Paper Has Been Unveiled and that brought a lot of clarity about what the project is going to ultimately look like in its completion. Now that the first successful trial has already been conducted, the market will be eager to try out this new platform.

Now that Facebook has been able to create a crypto eco-system, we can definitely expect a native token to be launched by them sometime soon. We also can expect bigger and better things from the project once it takes off in full force.

Dr. Omri Ross, eToroX’s chief blockchain scientist was really excited about the pilot run. He said:

“We applaud the early initiatives of the Libra team in designing Move IR, and are excited to follow the development in the near future.”

However, there is going to be reasonable trepidation in the market regarding the project considering all the scandals and controversies surrounding Facebook in the recent days. Businesses should be careful about how much of their data they wish to give up to this platform.