Jusletter IT

Facebook’s Libra, a new global digital currency built on an open-source blockchain, with a payment system embedded into its messaging services, may have wide-reaching implications for finance, in particular cross-border payments. This article addresses the benefits of decentralisation in financial services through blockchain technology. It concludes that, the challenges of regulation and adoption to scale aside, digital currencies have the potential to become the predominate medium of exchange, which could transform not only the financial services industry but also alter the way companies and individuals interact and do business.