Lecture

Libra: Impact and Technology

Graph Chat

Chat with Graph Search

Ask any question about EPFL courses, lectures, exercises, research, news, etc. or try the example questions below.

DISCLAIMER: The Graph Chatbot is not programmed to provide explicit or categorical answers to your questions. Rather, it transforms your questions into API requests that are distributed across the various IT services officially administered by EPFL. Its purpose is solely to collect and recommend relevant references to content that you can explore to help you answer your questions.

Description

This lecture delves into Facebook's Libra project, exploring its impact on the economy and society, as well as its technological underpinnings. The panel discussion features academic and industry experts sharing insights on the controversial cryptocurrency project. Topics covered include Facebook's revenue model, penetration rates, the case for underbanked populations, comparison with other payment systems, the Libra Association, token mechanisms, regulatory status, and potential future scenarios.

Official source

Related concepts (32)

Cryptocurrency

A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities.

Cryptocurrency and crime

Cryptocurrency and crime describes notable examples of cybercrime related to theft (or the otherwise illegal acquisition) of cryptocurrencies and some of the methods or security vulnerabilities commonly exploited. Cryptojacking is a form of cybercrime specific to cryptocurrencies that has been used on websites to hijack a victim's resources and use them for hashing and mining cryptocurrencies. According to blockchain analysis company Chainalysis, .

Cryptocurrency wallet

A cryptocurrency wallet is a device, physical medium, program or a service which stores the public and/or private keys for cryptocurrency transactions. In addition to this basic function of storing the keys, a cryptocurrency wallet more often offers the functionality of encrypting and/or signing information. Signing can for example result in executing a smart contract, a cryptocurrency transaction (see "bitcoin transaction" image), identification or legally signing a 'document' (see "application form" image).

Cryptocurrency exchange

A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for its service or, as a matching platform, simply charges fees.

Payment system

A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, payment instruments such as payment cards, people, rules, procedures, standards, and technologies that make its exchange possible. A common type of payment system, called an operational network, links bank accounts and provides for monetary exchange using bank deposits. Some payment systems also include credit mechanisms, which are essentially a different aspect of payment.

Related lectures (47)

Distributed Trust: Bitcoin and Blockchain

Explores distributed trust through Bitcoin and blockchain, addressing challenges, technical aspects, and ethical implications of cryptocurrencies.

Decentralized Approach to CBDC

Explores the opportunities and challenges of Central Bank Digital Currencies with a focus on a decentralized approach.

Blockchain Fundamentals

Explores the financial applications of blockchains, covering the definition, history, Ethereum, decentralized finance, smart contracts, tokens, assessment methods, challenges of double spending, digital signatures, and cryptographic hash functions.

Technologies for Democratic Society

Explores blockchain, smart contracts, decentralized governance, and the challenges faced by technologies like DAOs.

DLT: Real-World Applications