Skip to main content

‘Hegemonic digital currency’ could help fix global system – Carney - Central Banking

xxx

There is an opportunity for digital currencies to support a transition away from the destabilising effects of US dollar dominance, Bank of England governor Mark Carney says.

In remarks on October 18, Carney called on policy-makers to consider whether they should be waiting for China’s renminbi to become a new reserve currency – “which doesn’t solve the problem” – or take matters into their own hands with the creation of a hegemonic digital currency.

‘Hegemonic digital currency’ could help fix global system – Carney - Central Banking:

xxx

Comments

Post a Comment

Popular posts from this blog

We could fix mobile security, you know. We don't, but we could

Earlier in the week I blogged about mobile banking security , and I said that in design terms it is best to assume that the internet is in the hands of your enemies. In case you think I was exaggerating… The thieves also provided “free” wireless connections in public places to secretly mine users’ personal information. From Gone in minutes: Chinese cybertheft gangs mine smartphones for bank card data | South China Morning Post Personally, I always use an SSL VPN when connected by wifi (even at home!) but I doubt that most people would ever go to this trouble or take the time to configure a VPN and such like. Anyway, the point is that the internet isn’t secure. And actually SMS isn’t much better, which is why it shouldn’t really be used for securing anything as important as home banking. The report also described how gangs stole mobile security codes – which banks automatically send to card holders’ registered mobile phones to verify online transactions – by using either a Trojan...
Post a Comment
Read more