TY - UNPD A1 - Schmeling, Maik T1 - What is Libra? Understanding Facebook's currency T2 - SAFE policy letter series ; 76 N2 - Facebook’s proposal to create a global digital currency, Libra, has generated a wide discussion about its potential benefits and drawbacks. This note contributes to this discussion and, first, characterizes similarities and dissimilarities of Libra’s building blocks with existing institutions. Second, the note discusses open questions about Libra which arise from this characterization and, third, potential future developments and their policy implications. A central issue is that Libra raises considerable questions about its role in and impact on the international monetary and financial system that should be addressed before policymakers and regulators give Libra the green light. T3 - SAFE policy letter - 76 KW - Libra KW - cryptocurrency KW - currency board Y1 - 2019 UR - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/51284 UR - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-512844 UR - https://safe-frankfurt.de/de/policy-center/publikationen/detailsview/publicationname/libra.html PB - SAFE CY - Frankfurt am Main ER -