Libra — A Differentiated View on Facebook’s Virtual Currency Project
Volker Brühl ()
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Volker Brühl: Goethe-Universität Frankfurt
Intereconomics: Review of European Economic Policy, 2020, vol. 55, issue 1, 54-61
Abstract:
Abstract Libra — a global virtual currency project initiated by Facebook — has been the subject of many controversial discussions since its announcement in June 2019. This paper provides a differentiated view on Libra, recognising that different development scenarios of Libra are conceivable. Libra could serve purely as an alternative payment system in combination with a dedicated payment token, the Libra coin. Alternatively, the Libra project could develop into a broader financial infrastructure for advanced financial services such as savings and loan products operating on the Libra Blockchain. Based on a comparison of the Libra architecture with other cryptocurrencies, the opportunities and challenges for the development of the respective Libra ecosystems are investigated from a commercial, regulatory and monetary policy perspective.
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:intere:v:55:y:2020:i:1:d:10.1007_s10272-020-0869-1
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DOI: 10.1007/s10272-020-0869-1
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