Bank Of England Governor Believes Digital Currency Can Replace US Dollar

Being a prominent figure as the international monetary and financial system (IMFS) for such long time, U.S. dollar might be changed. This idea was stated by Bank of England’s governor, Mark Carney, who offered some solutions, including the usage of digital currency.

Speaking at the Economic Policy Symposium last Friday, Carney stated that U.S. dollar’s status as world’s reserve currency remain huge up til now. However, the governor thinks that maybe a potential change could make things much better, especially if non traditional currency is being used.

The experienced economist and banker believes that if there’s a digital currency which get full support from every national bank, thinks will get smoother. A method which he labeled as Synthetic Hegemonic Currency (SHC) in theory will certainly disturb before potentially replacing U.S. dollar massive influence.

According to Carney that it’s certainly worth noting that an SHC placed in IMFS could actually offer more support support for better global outcomes. However, the governor did admit that for now digital currencies are far from being dependable or ready as replacement for U.S. dollar.

An interesting idea indeed for those who already have certain affection towards digital currency or payment. Should this idea become fruitful in the future, those people could be leading the line in world economic.