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Libra-like Currency, An Alternative To US Dollar Says Carney

Mark Carney believes Libra-like virtual coin would eventually replace the dollar as a reserve currency

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Mark Carney, the Governor of the Bank of England delivered a speech in U.S. Federal Reserve’s annual symposium in Jackson Hole, Wyoming claimed that USD is replaceable with a digital currency similar to Facebook’s Libra.

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Carney says “it’s far too expensive to send money cross-border, and there are huge financial inclusion issues related to that and costs related to that”. A cryptocurrency may resolve these issues as per him. Carney also believes that Libra has to be virtually perfect. It is at least from a financial security standpoint before releasing in the market. 

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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