Columbia Law School's Katharina Pistor on Facebook's Libra

The transcript discusses Facebook's approach to creating a global digital currency, highlighting concerns about private currencies increasing risks. It explores arguments for and against private currencies, emphasizing the need for updated payment systems. The discussion includes who should govern these systems, whether they should be public goods, and Facebook's significant role in the Libra Association. The potential for scalability through Facebook's platform and the legal challenges faced are also examined.

What are the main concerns regarding a privately sponsored currency like Libra?

What points are raised about the necessity of a digital currency?

How does the current payment system in the United States compare to what is proposed?

What are the implications of leaving the governance of digital currencies to private forces?

What role does Facebook play in the development of digital currencies?