Libra and the others: the future of digital money
With the digitization of society, new means of payment are gaining ground. In addition to mobile money apps, which operate within the traditional payment infrastructure, digital currency issued by tech large corporations - such as Libra, Gram or Walmart Coins - could emerge as an alternative to fiat money and to incumbent financial intermediaries.
However, a new global payment system supported by private digital currencies raises several issues: the implications for monetary and financial stability policies, the effectiveness of global regulation, the risk of money laundering, financing of crime and terrorism, consumer protection. How are governments, central banks and regulators, reacting to these developments?
This event, promoted within the framework of the partnership between Intesa Sanpaolo and IAI, aims at analysing the scenario of private digital currency’s development, discussing its threats and promises.