LIBRA: Rising tides of change lift all the boats

Richard Titus
10 min readJun 19, 2019
Venice tides

For the past few days, my social media feed has been overwhelmed with comments, opinions, and notes about the announcement of Libra, Facebook’s new global blockchain protocol and cryptocurrency.

A few reached out to me both in private and on social media and in public to ask for my take. I have been, as several indicated, “noticeably and oddly silent.”

I can now reveal that this is because of my involvement with the Creative Destruction Lab. CDL is a global science and technology seed-stage program founded in Toronto and distributed across Seven cities in three countries and was announced today as one of the Libra Association’s founding partners.

Professor Ajay Agrawal

The Creative Destruction Lab is a not-for-profit seed-stage program for massively scalable, science-based companies. Its nine-month program pairs founders with experienced entrepreneurs and investors to set focused, measurable objectives with the goal of maximizing equity-value creation. Founded in 2012 by Professor Ajay Agrawal at the Rotman School of Management at the University of Toronto, the program has now expanded with locations in Vancouver, Calgary, Montreal, Halifax, and Oxford. Since its inception in 2012, companies that have participated in the CDL program have created over $4.2 billion in equity value. CDL Alumni include North (Waterloo), Atomwise (San Francisco), Deep Genomics (Toronto), Automat (Montreal), Kyndi (Palo Alto), and Heuritech (Paris). I have been a mentor, associate, and active participant in CDL for around three years since first invited by Barney Pell and welcomed by Professor Agrawal. It’s one of the most rewarding things I do in my free time.

So, what is Libra? “Libra’s mission is to enable a simple global currency and financial infrastructure that empowers billions of people.” The new digital currency will be built on the Libra Blockchain and fully backed by the Libra reserve, a basket of fiat currencies and ‘other assets’. The project is in principle; decentralized and governed by the Libra Association, of which Creative Destruction Lab is a Founding Partner — what it will become in practice — only the future knows — but…

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Richard Titus

CEO, Yogi, Serial entrepreneur, raconteur, coach, advisor and sometime entertainer