Digital currencies such as Facebook's Libra will disrupt the financial syst...
) Libra will disrupt the financial system, either by forcing central banks to innovate or by grabbing a global role that could challenge the dominance of the dollar, ECB board member Benoit Coeure said on Tuesday.
“Global ‘stablecoin’ initiatives, such as Libra, will prove disruptive in one way or another,” Coeure told a conference in Luxembourg. “They are the natural result of rapid technological progress, globalisation and shifting consumer preferences.” Facebook’s aim is to connect Libra to the WhatsApp messaging service, adding a payment leg to an already global application. Such a function would immediately give Libra a global role.
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