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iCurrency?

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  • Zura Kakushadze
  • Willie Yu

Abstract

We discuss the idea of a purely algorithmic universal world iCurrency in light of recent developments, including Libra. We analyze the Libra proposal, including the stability and volatility aspects, and discuss various issues to be addressed. For example, one cannot expect a cryptocurrency such as Libra to trade in a narrow band without a robust monetary policy. A technical appendix (available online) provides a detailed mathematical description of the (crypto) FX rate dynamics in target zones.

Suggested Citation

  • Zura Kakushadze & Willie Yu, 2019. "iCurrency?," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 20(4), pages 151-176, October.
    • Handle: RePEc:wej:wldecn:767
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    File URL: https://www.worldeconomics.com/Journal/Papers/Article.details?ID=767
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