Over time, our hope is that the Association will be able to collaborate with central banks on issues similar to direct custody of cash or money equivalents and very quick-term government securities or the combination of the Libra cost system with CBDCs. This would scale back credit score and custody threat, streamline the operations of the Reserve, and provide additional consolation to Libra Coin holders. The construction of the Reserve is deliberately designed to mitigate threats and decrease risks.
These consultations and meetings around the globe have been invaluable in informing our path. In particular, the Association tremendously appreciates the thorough and thoughtful research the G7 working group accomplished on stablecoins.
At first, only Association-accredited and -revealed good contracts will be able to interact immediately with the Libra payment system. Over time, the Association will explore applicable controls to permit third-party publishing of smart contracts. The Move language also …