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Christian Catalini, co-creator of Meta’s failed Libra project, criticizes Stripe’s Tempo blockchain for abandoning crypto’s core principle of decentralization. He warns that corporate blockchains like Tempo represent a fundamental shift away from crypto’s original ideals. Catalini argues that if such projects succeed, they could signal the end of crypto’s revolutionary aspirations.
- Libra's failure was due to timing, Silicon Valley hubris, and regulatory pressures rather than technical shortcomings
- Corporate blockchains inherently face incentive problems that lead to centralized control despite promises of fairness
- Regulatory requirements force corporate chains to sacrifice permissionless access and self-custody features essential to crypto's original vision
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