Follow Us

Follow us on Twitter  Follow us on LinkedIn

05 February 2020

Bloomberg: In the digital currency race, Mark Carney tops Mark Zuckerberg

Central banks rather than giant tech companies are considered the preferred issuers of digital currency, according to a survey published by Omfif.

As for Facebook, its digital currency plans have been met with skepticism. Authorities are concerned about users’ privacy, risks it could be exploited by criminals, and the threat it may pose to major currencies’ sovereignty.

Having blasted Bitcoin with monikers including “the evil spawn of the financial crisis,” central bankers are now beginning to explore the novel field of digital currencies.

A Bank for International Settlements survey determined that an increasing number were looking into issuing a new medium of exchange. Bank of England Governor Mark Carney laid out a radical proposal for an overhaul of the global financial system that would eventually replace the dollar as a reserve currency with a Libra-like virtual one.

Full article on Bloomberg (subscription required)

© Bloomberg

< Next Previous >
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information

Add new comment