Facebook’s Libra was the most high-profile proposed digital currency to date but it faced a host of fundamental issues that it had yet to address.
“As a consequence, it is an open question whether such a new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector, perhaps through a network of ... digital currencies,” Carney said.
Such a system could dampen the “domineering influence” of the U.S. dollar on global trade.
- Bank of England Governor Mark Carney
