Everyone is talking about Libra, Facebook’s big splash in the cryptocurrency space, announced on Tuesday. But on Wednesday at Fortune’s inaugural Brainstorm Finance conference in Montauk, N.Y., Venture capital firm Andreessen Horowitz made one thing clear: It will have just as much power as Facebook in overseeing the governance of the new digital currency.
Kathryn Haun, managing partner at Andreessen, told the Brainstorm Finance audience that a consortium of 28 founding members, called the Libra Association, will spend the next few months debating decisions around how the new digital currency will be overseen. And all of those members will have a seat at the table in determining the direction.
“One of they key factors in our decision to join was that we would in fact have—and all members would have—an equal vote,” Haun said.