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.
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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