FILE PICTURE: A 3D-printed Facebook Scale cryptocurrency’s logo is seen in front of the display and German flag on it in this picture, the 13th of September 2019. REUTERS/dado Ruvic
BERLIN (Reuters) – germany’s Finance Minister, Olaf Scholz told Reuters on Tuesday that the recent withdrawal of a number of major companies, from Facebook’s Scale project, which is a good sign, adding that the plan would be a threat to the stability of the world and the world of finance.
Facebook Inc’s ambitious efforts to establish a global digital currency to be called the Scale of heavy setbacks in the last few weeks, as a major payment companies, including visa, Mastercard, and Visa Inc. to stop the group behind the project.
“It’s a good sign that major companies have pulled out of the project,” Scholz said in an interview with Reuters.
“Ah, I see the project as a threat to the autonomy of the member states and to the democratic governance of our society. We need to make sure that it is the issuance of currency, will remain a matter for member states and not private companies,” Scholz added.
Reporting by Michael Nienaber,