Author(s): Beat Weber
Date published: Jul 2019
SUERF Policy Note, Issue No 85
by Beat Weber, Oesterreichische Nationalbank
JEL-codes: E02, E42, E50.
Keywords: Money, Monetary theory, currency competition, legitimacy
The recent publication of a “white paper” by a Facebook-initiated consortium to start a virtual currency called “Libra” has generated considerable public attention. Based on the limited amount of information currently available, we try to assess Libra’s potential to become legitimate money, and its possible prospects to compete with existing official currencies.
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