Libra Designer: Stripe's Tempo blockchain is doomed to fail

Odaily Planet Daily News US fintech giant Stripe is promoting its new blockchain Tempo as a revolution in the global payments field, but Christian Catalini, one of the designers of Libra, a failed stablecoin project for Meta, said the Tempo blockchain is "doomed to fail", and he believes that the problem for chains like Tempo is not the code, but the incentive mechanism. Once they occupy the monopoly market, the temptation to distort the competitive environment becomes irresistible. If Stripe and other fintech companies successfully build the walled garden blockchain, the result will not be financial innovation, but a reshuffle of corporate monopoly. An open, license-free network is the only way forward, and any other way is doomed to fail. (DL News)