“Das Geschäftsmodell hinter Libra (Libra’s Business Model),” Jusletter, 2019

Jusletter, 1 July 2019, with Corinne Zellweger-Gutknecht. PDF.

Libra is supposed to be backed; the returns on the securities backing it are going to be distributed among the Libra partners; and Libra’s price is supposed to be managed by a network of market makers. We don’t know much more. Will market makers have the incentive to deliver?