UK Central Bank Chief Sees Digital Currency Displacing US Dollar as Global Reserve
BOE governor Mark Carney called on Friday for the creation of a wholly digital alternative to the U.S. dollar.
The outgoing governor of the Bank of England highlighted the potential risks to monetary governance if a central bank digital currency were to be launched in the U.K.
The working group will pool research into CBDCs.
Carney has argued for a digital replacement to fiat, amid the U.S. dollar’s waning hegemony.
The ex-official pushed back at a suggestion from the chief of the Bank of England that a Libra-like crypto should replace USD in global markets.
Mark Carney's recent statements about a new digital global currency has opened the door to fresh ideas built on blockchain, Michael J Casey writes.