OpenLibra’s developers have already released the first version of a permissionless Libra-based virtual machine on GitHub – dubbed MoveMint – that will run on top of the Tendermint blockchain software.
Lucas Geiger, co-founder of blockchain infrastructure startup Wireline, has announced OpenLibra – a permissionless fork of Facebook’s planned stablecoin.
Ethereum developer Lane Rettig tweeted on Oct. 8 that OpenLibra was announced by Geiger at the Ethereum developer conference Devcon 5, adding:
“Seeing #openlibra publicly announced for the first time is sending shivers down my spine. I am so excited about this initiative to ‘lock the door open’ for libra tech.”
A more trustworthy environment for Libra apps
According to the project’s official website, OpenLibra aims to become “an alternative to Facebook’s Libra, that places emphasis on open governance and economic decentralization.” The site explains:
“Despite pushback from nation-states, we believe that Facebook is likely to succeed in their goal. OECD Governments will be focused on their own outcomes, and in reality have little legislative power to leverage against a transnational force such as Facebook’s Libra. For that reason we are creating OpenLibra.”
OpenLibra’s core team and contributors list includes personalities from projects such as Cosmos, Wireline, Radicle, Democracy Earth, BlockScience, Synestate, Vulcanize, MathShop, Web3, Singapore University, Ethereum Foundation, Spacemesh, George Mason University, Iclusion, Hashed, Danish Red Cross and Kyokan.
As Cointelegraph reported on Oct. 8, Brad Garlinghouse, the CEO of blockchain payments network Ripple, thinks that Facebook will fail to launch its Libra digital currency before 2023.
Facebook Sued for Trademark Infringement Over Libra Logo Design
Finco Services of Delaware has initiated a lawsuit against Facebook in a New York court, Oct.10, over the swirly tilde logo Facebook uses for its Libra token. The plaintiff is also suing its former designer, who did the logo work for Facebook, for reusing the design.
Looking for a logo
Finco Services alleges trademark infringement, unfair competition, and “false designation of origin” against Facebook over its use of the swirly tilde logo.
The company provides online banking services through a mobile app, doing business under the name Current. In 2016, it paid a company called Character SF to design a logo for the brand, which it registered with the U.S. Patent and Trademark Office.
This registration covered a number of business activities, specifically including “in connection with a mobile computer software application used for enabling cryptocurrency-based transactions.”
A “recycled” design
The problem arose when Facebook also went to Character SF, looking for branding for its proposed cryptocurrency, Libra.
The resulting designs feature numerous tilde shapes, but the Calibra logo produced is virtually identical to the logo used by Finco for its Current app and debit cards.
Facebook CEO Mark Zuckerberg will also testify before Congress on Oct. 23, regarding his companies intentions for the Libra currency.