De Libra 1.0 à Libra 2.0 (Diem): entre échec programmé et pertinence renouvelée pour l’économie politique

Marc Pilkington

Revue d'économie politique, 2022, vol. 132, issue 3, 397-420

Abstract: We reflect on the announcement by Facebook in June 2019 of the launch of Libra, a digital currency, managed by a consortium of private players, backed by a basket of fiat currencies. In a first part, we analyze the nature of this two-step project corresponding to two successive versions, respectively Libra 1.0 and Libra 2.0 (Diem). In a second part, we put forward a critical evaluation of Libra 1.0 by mobilizing crucial issues such as the emergence of private monies, the comparison with currency boards, and the confidentiality of personal data. Even if all these issues are far from satisfactorily settled, we investigate in a third part the renewed potential of the rebooted project through the underlying monetary governance mode as well as the complex link with central bank digital currencies (CBCD).

Keywords: cryptocurrency; blockchain technology; central bank digital currency; D85; E42; M20; O33 (search for similar items in EconPapers)
Date: 2022
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