LIBRA - a differentiated view on Facebook's virtual currency project

Volker Brühl

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 form a commercial, regulatory and monetary policy perspective.

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Year of publication:	[2019]
Authors:	Brühl, Volker
Publisher:	Frankfurt am Main, Germany : Center for Financial Studies, Goethe University
Subject:	Facebook, Inc. \| Virtuelle Währung \| Virtual currency \| Geldwirtschaft \| Monetary economy \| Soziales Netzwerk \| Social network \| USA \| United States

Extent:	1 Online-Ressource (circa 23 Seiten) Illustrationen
Series:	CFS working paper series. - Frankfurt, M. : [Verlag nicht ermittelbar], ZDB-ID 2196856-1. - Vol. no. 633 CFS Working Paper ; No. 633, 2019
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	10.2139/ssrn.3477599 [DOI] hdl:10419/206412 [Handle]
Classification:	E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; G20 - Financial Institutions and Services. General
Source:	ECONIS - Online Catalogue of the ZBW

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