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Libra — A Differentiated View on Facebook’s Virtual Currency Project

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  • Volker Brühl

    (Goethe-Universität Frankfurt)

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.

Suggested Citation

  • Volker Brühl, 2020. "Libra — A Differentiated View on Facebook’s Virtual Currency Project," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(1), pages 54-61, January.
    • Handle: RePEc:spr:intere:v:55:y:2020:i:1:d:10.1007_s10272-020-0869-1
    DOI: 10.1007/s10272-020-0869-1
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