Libra co-founder: Libra can coexist with central bank digital currency

According to Business Times, Libra co-founder and Calibra chief economist Christian Catalini said that even if world central banks decide to create their own digital currency, Libra still has a future. At the Singapore FinTech Festival on Tuesday, Catalini said they knew from the outset that the central bank would eventually issue some kind of central bank digital currency. In fact, Libra could have been built on a central digital currency, but the challenge is that there are few precedents to follow. Catalini also pointed out that “Libra’s reserves, and all the ideas that ensure Libra’s assets are managed, controlled and produced by the central bank, are largely a complement to monetary policy. Even though CBDC can really get involved, It will also help to optimize Libra's operations because it was originally a payment network. In that case, giving up Libra is 'meaningless' because it will be more effective, allowing people to focus more on assets issued by the central bank. Achieve cheap, fast payments."