Facebook has formed a committee that will govern the technical development of its Libra project.
The announcement was made by Facebook’s Libra association. According to the announcement, the technical Steering Committee will govern Libra projects’ technical developments.
A 5-member Steering Committee
This newly-formed Technical Steering Committee consists of five members. These five members have been selected from five companies out of the 21 companies. These five companies are Anchorage, Bison Trails, Mercy Corps, Calibra, and USV.
The five-member Steering Committee involves the Director of Emerging Technology at Mercy Corps Ric Shreves, Co-founder and President at Anchorage Diego Monica, CEO and Founder at Bison Trails Joe Lallouz, Partner at Union Square Ventures Nick Grossman, and the Libra Core Developer at Calibra, George Cabrera III.
Each of them has a specific area of technical expertise. For example, George Cabrera III has a 20-year experience in software development and has also spent time in the Core data team of Facebook. Apart from this, Nick Grossman has experience in leading and advising startups especially in security, data, privacy, and regulatory issues. Other members also have a background in the blockchain.
Role of the Steering Committee
This technical Steering Committee will cover the oversight and will see the coordination of Libra’s technical design and development.
The vision behind developing this committee is that the Libra Association wants to make the Libra project self-governing and independent. As the announcement reads:
Establishing an independent TSC that is responsible for technical development of the Libra network is an important step forward for the Libra project. It has always been the Association’s vision that the Libra project would be self-governing and independent of any one organization’s control.
Committee will have some responsibilities such as directing the technical roadmap, forming working groups to fast-track research into specific issues, and guiding the codebase development.
The Steering Committee also aims to release a technical governance framework within the first quarter of the year 2020. This framework will be helpful for developers.