Tag Archives: Libra

Economists have reacted negatively to the prospect of Facebook's Libra cryptocurrency. This column, part of the VoxEU debate on the future of digital money, outlines how if we focus exclusively on the efficiencies a currency like Libra brings to payment, there are arguments in its favour. A global digital currency provided by central banks may be preferable, but a private version would offer many of the same benefits.... The Libra operates on a fixed exchange rate with reference to floating...

China is already there. Why. Government permissiveness that has not been forthcoming in the West since it would greatly reduce banks' revenue from retail transactions. But in China the banking system is largely government owned, so it is not the same issue.The DiplomatChina’s Digital Payment Revolution: Lessons for Libra Dongyao Nie, news researcher at Al Jazeera English based in Washington DC

Facebook has led a consortium which has unveiled a white paper on a proposed Libra cryptocurrency. It is described as being backed by a multi-currency portfolio of government bonds, and so it might be looked at as a currency basket. I am not an expert on Libra, but I just wanted to comment on the pros and cons of such a basket for small online commerce players (such as BondEconomics.com). I also conclude with a short discussion of systemic risk posed by this platform.... Bond Economics ...