Integrating Digital Currencies with Conventional Banking: A Case Examination of the Libra Initiative

作者：Li Shengping

院校：Lanzhou University of Arts and Science, China

摘要：This paper explores the current state and challenges of integrating the digital currency Libra with traditional banking systems, as well as providing a prospective outlook on future development directions. The study initially outlines the origins, technical architecture, and economic model of Libra, and its potential for integration with traditional banking services. It then analyzes the impact of international and domestic regulatory environments on Libra, along with the application of regulatory technology in digital currency oversight. The article emphasizes factors such as compliance, technological innovation, market acceptance, security, and cultural differences, which are crucial in the integration process. Finally, policy recommendations are proposed, and future research directions are identified based on the limitations of the study, aiming to provide guidance for financial decision-makers, regulatory authorities, and industry participants.

关键词

Libra digital currency; traditional banking integration; regulatory technology; market acceptance; technological innovation; financial inclusiveness; global payment solutions; policy recommendations; future research directions

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References

[1] Libra Association. (2020). Libra 2.0 White Paper.

[2] The Economist. (2019, June 20). The rise of digital currencies. The Economist Newspaper Limited.

[3] Carney, M. (2019). The future of money and the role of central banks in a digital age. Speech at the Bank of England, London.

[4] International Monetary Fund. (2020). Digital Currency and the IMF. IMF Policy Paper. Washington, DC: International Monetary Fund.

[5] Yermack, D. (2021). Corporate currency: The launch of Libra and Facebook’s bet on the global market. Journal of Corporate Finance, 66, 102034.

[6] Financial Times. (2020, July 15). Central banks and digital currencies: A race to the future. Financial Times Ltd.

[7] Bank for International Settlements. (2018). Central bank digital currencies: Foundational principles and core features. Bank for International Settlements.

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Integrating Digital Currencies with Conventional Banking: A Case Examination of the Libra Initiative

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