The news about Libra’s newly appointed managing director James Emmett comes alongside the anticipated Libra Launch. Libra Network is one of the key operational units of Libra association and a driving force behind Facebook’s cryptocurrency and will be a lasting financial infrastructure solution upon which an ultimate global currency will be developed to empower billions of people.
Who is James Emmett?
Prior to appointment, Emmett has had an opportunity to serve as a CEO for over 25-year in Hongkong and Shanghai Banking Corporation (HSBC) limited. HSBC is a top-rated world financial services provider, and Libra Network has confidence in Emmert’s technical expertise required to lead Libra in its final milestone before the long-awaited launch.
According to Stuart Levey, CEO Libra Association gave positive comments over Emmett’s recruitment. According to him, Emmett is a performer with a track record as the CEO of HSBC Bank with wide experience in handling international banks previously having worked in countries including the UK, Europe, New York and Turkey. Thus, him being as at forefront in decision making will orient Libra in the right path to attain its financial purpose.
Also, Levey was delighted to receive someone more passionate current opportunities in the fintech industry. He said Emmert was determined to propel Libra forward and make a difference in the course of executing his duty as a new managing director. Emmett on the other hand promised to effectively play his role in financial innovation to bring forth the operationalization of the network”.
Libra Network Hurdles
Libra is at the delicate phase of its development and strategizing on how to enter the market at a time when cryptocurrency is facing a tough moment with international financial regulations. Besides its entering in a competitive market with exciting stablecoins alongside the CBDCs, another form of digital currencies to be issued by central banks. Libra will face a tough time to enter and thrive in a competitive market.
However, Libra has opportunities in terms of the targeted market of about 2 billion Facebook users worldwide. So, its success will depend on Libra’s strategy to effectively develop and apply the Libra