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From Libra to Diem. The Pursuit of a Global Private Currency
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Ivan Pupolizio
Published/Copyright:
October 8, 2021
Abstract
The official launch of the Libra project in 2019, and the subsequent troubles experienced by the project, stimulated a vigorous debate, from different perspectives, on the pros and cons of a private currency with global ambitions. This paper describes the main characteristics of Libra and of its heir, Diem, locating both in a partial taxonomy of the increasingly crowded field of so-called ‘digital currencies’. In the light of the distinguishing features and risks of such an ambitious project, the paper also aims to assess the potential impact on a crucial issue of the present international monetary system: the power to create money.
Published Online: 2021-10-08
© 2021 Walter de Gruyter GmbH, Berlin/Boston
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Keywords for this article
Libra;
Diem;
digital currencies;
international monetary system;
banking system
Articles in the same Issue
- Frontmatter
- Research Articles
- COVID-19 Vaccines as Global Common Goods: An Integrated Approach of Ethical, Economic Policy and Intellectual Property Management
- Social, Moral and Legal Rules, Biopolitics and the Covid-19 Crisis
- Legal, Tax and Accounting Treatment of Cryptocurrencies in Mexico
- From Libra to Diem. The Pursuit of a Global Private Currency
- The Panoply of Challenges Facing International Criminal Justice: The United Kingdom’s Response to Defining and Responding to Terrorism
- The Legal Dimension of the Relation Between the Chinese Communist Party and the Private Economy. A Perspective of the Article 19 of the Company Law
- How (Not) to Compare?: Not Being Inside, Nor Outside
- Energy and Law. A Critical Approach to the Cuban Context
