Bank of England Governor mark Carney has indicated its willingness to support the idea of creating a government digital currency (CBDC), according to Bloomberg.
These words of the head of the Bank of England was made on Friday at the jubilee conference of the Central Bank of Sweden (Riksbank) in Stockholm, dedicated to the celebration of the 350th anniversary of the organization
At the same time, Carney said that although he was not opposed to the idea of implementing CBDC, it is unlikely that this will happen in the near future. He also added that cryptocurrency is not currently considered to be money.
According to Carney, “the past, present and future” of the Central banks depends on maintaining public confidence in the financial system. Additionally, he noted that, starting with the Brexit, the Bank of England has revised its financial system, making it more resilient to the shocks that can follow events like a British exit from the EU.
On the capabilities supported by the Central Bank of digital currency, mark Carney stated earlier, noting at the end of last year that the Bank of England has held talks with other Central banks regarding the prospects for such an initiative. He also said that the technology of the distributed registry can have a positive impact on financial stability and to improve the efficiency of interbank settlements.
However, mark Carney continues to be skeptical of bitcoin and other cryptocurrencies. In March of this year, he noted the “extreme volatility” of cryptocurrencies, which, according to him, testifies to the absence of any internal values or external support.
Earlier in may it was reported that the possibility of introducing its own digital currency as a complement to cash considering the Central Bank of Norway.
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