"Artificial intelligence" is one of the most discussed topics in public today. Events such as the evaluation of voter data by Cambridge Analytica for the US presiden-tial election in 2016 or the generation of a conversation with the new generation of Google Assistants, which many participants regard as humane, do fuel fears and en-thusiasm for the new technology.
Retail banking is undergoing radical change. New players in the market and changes in the regulatory framework (e.g. PSD 2) mean that the market is being opened up as a result of market conditions and regulations, posing new challenges for traditional banks. Customer behaviour has also changed decisively. The willingness of customers to change accounts has doubled in the last four years, with the absolute number of accounts in the German market remaining constant over this period. The traditional instruments of financial institutions currently offer hardly any opportunities to react to the effects of this change.
The Libra Association, an organization of currently 28 institutional members from various industries, has announced the launch of a crypto currency called "Libra" in 2020. Among the independent members is Facebook, which is currently the major driving force until the official launch and is planning with its subsidiary "Calibra" to release a wallet of the same name for Libra. The project is therefore often mistakenly referred to as "Facebook currency", but the actual scope and motivation, according to the recent white paper published by the Libra Association, goes far beyond that.