Will Facebook’s Libra change the way the world banks? (2019). In the end, new financial institutions will likely supplement the existing ones rather than replace them. New systems have to interface with old ones. And there will always be tradeoffs. If you want to make it frictionless for anyone to send money around the world without cumbersome identity verification, you cannot simultaneously make it hard for someone subject to U.S. sanctions to pay terrorist organizations or money launderers. Libra might develop better mousetraps, but at the cost of accessibility and ease of use. Facebook will have to find a balance that works.
Facebook’s Libra may be too good to be true. (2019) Facebook’s Libra aims to make financial transactions cheaper, faster, and more accessible. Resident Scholar Paul Kupiec warns that Libra may be riskier and more costly than traditional currency.
Why consumers must beware of Libra (2019). Nothing in life is free, and Libra is another example of this. In the end, it will be far safer and cheaper for consumers to continue using dollars in the banking system.