PayPal COO Bill Ready talked to Karen Webster of PYMNTS.com about the decision to join Facebook’s project Libra; PayPal exists in part to help the underserved and underbanked, having the chance to potentially help the more than 1.7 billion who fall into that category was too much for the company to pass up; “This won’t happen overnight,” Ready told Webster. “When you look at these places with a high concentration of the unbanked, there are things we can do, but it is beyond any one player.”; partnering will only help to improve these aspirations and the early goal of Libra is to help agree upon an common set of standards that will not be controlled by one company; he knows this process will be long and slow as there is a lot of regulatory questions yet to be answered and a lot of infrastructure needs to be met; he is confident the effort will be worth it, “We think what we can create, collectively, will be well worth the effort.” Source.
