Global Digital Divide

Libra: The Future of Digital Currency in the West?

May 03, 2020

Since June 2019, Facebook has received a tremendous amount of public and regulatory scrutiny over the Libra project, the company’s plan to create a digital currency and digital wallet integrated into Facebook-owned apps Messenger and WhatsApp. Libra aspired to be a transnational currency, bank the unbanked, and to pioneer the widespread use of digital currency in the Western world. Yet the new project has largely fallen flat due to regulatory concerns. Even so, the Libra project has raised some important questions that central bankers and legislators must now consider.

Will digital currencies dominate the future, or will they ultimately prove risky and impractical forms of money? And if digital currencies are a better technology and our financial future, should they be controlled by large private companies like Facebook, or left to the control of central bankers? In this podcast, we explore these questions and try to understand exactly what the digital payments space may look like in Western nations in the near term. Listen to the full podcast above as we explore further.

By: Delicious and Decentralized

We spent the past four months studying the most pressing issues facing the future of global technology. This site represents our attempt to dissect and contribute to the current conversation around some of those topics.

© Spring 2020, Global Digital Divide: Big Tech in a Multipolar World @ The University of Virginia