The Bank of England Governor mark Carney (Mark Carney) said that the US dollar, which is a global reserve currency, you need to replace the digital currency, is similar to Libra.
According to Carney, a trade war is detrimental to growth and erode multilateral cooperation, while Central banks live in a world with low interest rates, because the struggle for the restoration of inflation.
“We see a combination of strong economic uncertainty, explicit protectionism and fears about future negative shocks cannot be adequately compensated. All this further reduces inflation in the world. What are we to do?” said Carney at the annual meeting of representatives of the US Federal reserve in Wyoming.
He stressed that in the near future, banks will have to deal with the situation “the old fashioned way”. However, according to Carney, the global reserve currency is the US dollar, should be replaced by some form of global digital currencies like stablon Libra. It would be better than to change the dollar to other Fiat currencies such as Chinese yuan.
“In the long term we need to change the rules of the game. When things change, it is not necessary to change sprawling one currency for another,” said Carney.
In July, the Bank of England stated that society needs to acknowledge the problems that Facebook is trying to solve with the help of project Libra. He stressed that the slow and expensive payments within the country and between States “strangle” the economy.