Monetary systems are increasingly going digital. For the Eurosystem, there are also efforts to digitize the common currency. On the one hand, the European Central Bank is discussing the introduction of its own digital currency, a so-called digital central bank currency, Central Bank Digital Currency (CBDC). On the other hand, the stablecoin project "Diem" - formerly "Libra", initiated by Facebook in 2019, plans to create a global payment infrastructure. Thus, the public and private sectors are racing to launch a digital, programmable currency for the first time.
Read more in the FERI Cognitive Finance Institute's Cognitive Briefing on "The Race between the European Central Bank and the Libra* Association" (available only in German).
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