Anton Didenko

The gloves are off: Libra as the perfect catalyst for new central bank digital currencies

In his keynote speech at the Singapore FinEdTech Conference 2019 Allens Hub researcher Anton Didenko discussed the impact of Facebook’s Libra cryptocurrency on the development of new digital currencies by central banks.

Dr Didenko argued that publication of the Libra whitepaper has heralded the emergence of a major catalyst for modernisation of payment systems, suggesting that central banks may no longer have the luxury of time.

The massive scale and extraordinary reach of the Libra project – which is expected to integrate a whole range of disruptive technologies (from new blockchain consensus algorithms to new open identity standards) – have served as a rallying cry for regulators around the globe, triggering warnings of potential implications of global stablecoins and speeding up the process of development of new sovereign digital currencies.

To discover more about Libra, register here for the Allens Hub event,  'The Libra digital currency: Intro to the regulatory and technical issues' on 12 December.